Format decimal value to fraction using a tally table.

-- Raw Code

	DECLARE @Value AS DECIMAL(10,3)
	SET @Value = 10.375


	SELECT Fraction = CONVERT(VARCHAR,p.IntegerPart)+
				      CASE WHEN f.Denominator IS NOT NULL 
						   THEN ' '+CONVERT(VARCHAR,Numerator)+'/'+CONVERT(VARCHAR,Denominator) 
						   ELSE ''
					   END
	FROM (SELECT IntegerPart =FLOOR(@Value) , DecimalPart = @Value - FLOOR(@Value) ) p
	OUTER APPLY(SELECT TOP 1
					   Denominator = Number, 
					   Numerator = CONVERT(INT, DecimalPart  / (1.0/Number) )
				FROM Numbers  
				WHERE DecimalPart > 0 AND
					  Number BETWEEN 2 AND 200 AND 
					  DecimalPart  % (1.0 / Number) = 0.0
				ORDER BY Denominator ASC
			   ) f 


GO


--  Wrapped in a function
CREATE FUNCTION dbo.DecimalToFraction( @Value AS DECIMAL(30,10) )
RETURNS VARCHAR(50)
AS
BEGIN

	DECLARE @FractionNumber AS VARCHAR(50)

	SELECT @FractionNumber = CONVERT(VARCHAR,p.IntegerPart)+
							 CASE WHEN f.Denominator IS NOT NULL 
								  THEN ' '+CONVERT(VARCHAR,Numerator)+'/'+CONVERT(VARCHAR,Denominator) 
								  ELSE ''
							 END
	FROM (SELECT IntegerPart =FLOOR(@Value) , DecimalPart = @Value - FLOOR(@Value) ) p
	OUTER APPLY(SELECT TOP 1
					   Denominator = Number, 
					   Numerator = CONVERT(INT, DecimalPart  / (1.0/Number) )
				FROM Numbers  
				WHERE DecimalPart > 0 AND
					  Number BETWEEN 2 AND 200 AND 
					  DecimalPart  % (1.0 / Number) = 0.0
				ORDER BY Denominator ASC
			   ) f 

	RETURN @FractionNumber
END