Divide the 50 into 120, which gives you 2 whole and a fraction of 20/50. The fraction simplifies to 2/5 so - your final conversion would be...
120/50 = 22/5
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29/50 is the simplest form unless you want to use 0.58.
120/2000 = 3/50 when simplified
8/12 = 2/3
It is 5/12 (Divide the 50 and the 120 by five)
50% of 120 = 50% * 120 = 0.5 * 120 = 60