The term "per-cent" means "out of each 100" (Latin root cent- means one hundred).
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To change percentages into fractions, you simply divide by 100.
Not sure about precentages, but percentages are the numerators of ratios when the denominator is 100. Another way of thinking about it is that percentages represent parts per 100.
It is: 1.7*100 = 170%
Multiply it by 100 and so 1.21*100 = 121%
It is: 1/100 times 100 = 1%