Question

What fraction of £2 is 50p

Answer 1

You need to remember that 100 pence = 1 pound sterling.
Halve both sides:                    50 pence = 1/2 pound sterling
                                                200 pence = £2

                                50 pence          50 pence
Thus 50 p/ £2   = ------------------ = ------------------  = 1/4
                              £2                     200 pence

50 p is 1/4 of £2.