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It is 1/50. Here's one way to go about it. There is more than one way. Move the decimal point to the right the number of spaces necessary so that it's a whole number (in this case two places). This whole number [2] is the numerator. The denominator is ten raised to the power of (the number of places that you moved it to the right). So since you moved it 2 places to the right, the denominator is 10², which is 100.
The fraction is 2/100, which can be simplified by dividing the numerator & denominator by 2 ---> 1/50.
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