1.01 is a fraction. It is a fraction in decimal form rather than in the form of a ratio. However, that does not stop it being a fraction. Its rational equivalent is 101/100 which cannot be simplified.
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101% = 1.01 = 101/100
101/50
101/2000
7.202 as a fraction is 7 202/1000. As a fraction it is 7 101/500.
It is: 2.02 = 101/50 as a fraction in its simplest form