One Math question

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sonshine428

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I am currently going through 2012 Math Destroyer.
This question looks VERY simple, but can someone help me understand this? I feel so stupid asking this but... haha plz help Thanks ahead !! 🙂

Q. Solve for P: 12/24 - 2/12 = P% of 100.
A. 1/3. Since 1 is 1% of 100, 1/3 is 1/3% of 100.
(isn't 1/3 is 33.3% of 100?... )