You use fractions for LOTS of things in the real world like money, gambling, shopping, clothing, etc.
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You use fractions (or some variation, such as decimals) in any situation where whole numbers are not sufficient. For example, when you want to measure the object of a length in meters, and a whole number of meters is not precise enough.
Sure, honey. You can use fractions when following a recipe and measuring ingredients, when calculating discounts or sales prices while shopping, and when dividing up a pizza among friends. Fractions are everywhere, just like wrinkles and bad decisions.
Those are commonly used for working with fractions. You need the least common multiple to find a common denominator, for adding or subtracting fractions. And after doing some manipulations with fractions, you need the greatest common factor to simplify the fractions.Now, whether this is sufficiently "real-life" for you, is another issue. Depending on the career you choose, you many need to work with fractions on a daily basis, or you may hardly ever need them.