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The numbers in the simplified form are smaller and so may be easier to comprehend. Also, working with the lowest terms means that the results of multiplications or divisions are smaller numbers and so less susceptible to errors - either calculation mistakes made by the user or rounding errors because computers can store and manipulate numbers to only a limited degree of accuracy.
33.3% as a ratio in lowest terms would be 1:3
1/5
1/5
14:9
17 and 4/25