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.