7/2 would be the simplest way to do it. 3 and 1/2 also works and would be a bit more normal way of showing it.
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It is 7/2.
improper fraction f0r three wholes and one half = 7/2
3.5 = 7/2
It is 7/16.
7½% = 7.5% = 0.075 (in decimal) = 3/40 (in fraction)