1/2
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£1 = 100p → 50p/£1 = 50p/100p = 50/100 = (50×1)/(50×2) = 1/2 → 50p is ½ of £1.
50 Pence is one quarter of Two Pounds.
There are 100 p in a pound so 28p as a fraction of a pound = 28/100 = 7/25
There are 47 ways.
The fraction is £41/100. Since 41 is smaller than 100, there is no vulgar fraction possible.