50 is an integer and so there is no sensible way of representing it as a mixed fraction. If you want it as a mixed fraction of some other quantity then you need to specify that second quantity.
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First of all, it is called a mixed number. It would be 5 and 6/100. 6/100 divided by 2 is 3/50. The mixed number in simplest form is 5 and 3/50. * * * * * It is also called a mixed fraction.
7.34 = 734/100 = 717/50.
31 ---- 50 31 over 50
As a fraction in its simplest form 0.54 = 27/50
16 oz = 1 lb 94/16 = 27/4 = 6 3/4 lb