Remember that percentages are amounts written as fractions of 100; e.g. 85% is 85/100 and 23% is 23/100.
Following that pattern, 120% is 120/100. If you reduce it to its simplest form, it becomes 6/5, or 1 and one-fifth.
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120/100
120/1
120% = 1 1/5
120/100 or 6/5
120% is represented by the improper fraction 6/5