Although the number of times we find a need to display a number as a fraction is small, we do note that Excel let's us do it every time.
The process is quite simple. You select a cell or cells and then select Format + Cells + Fraction from the Format Numbers panel.
Below is a table of different numbers formatted according to the different Types of Fraction formats.
As you can see, the halves, quarters, eighths, sixteenths, tenths, and hundredths will perform a round off. Probably you will use the two-digits or three-digits selection the most.