Step 1:
The first step to converting 2971.503 to a fraction is to re-write 2971.503 in the form p/q where p and q are both positive integers. To start with, 2971.503 can be written as simply 2971.503/1 to technically be written as a fraction.
Step 2:
Next, we will count the number of fractional digits after the decimal point in 2971.503, which in this case is 3. For however many digits after the decimal point there are, we will multiply the numerator and denominator of 2971.503/1 each by 10 to the power of that many digits. So, in this case, we will multiply the numerator and denominator of 2971.503/1 each by 1000:
Step 3:
Now the last step is to simplify the fraction (if possible) by finding similar factors and cancelling them out, which leads to the following answer for 2971.503 as a fraction:
490298/165 / 1