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To find out the value of 0.5 as a fraction, you just need to follow a few steps that are mentioned below. 

1. Write the given decimal value in the form of a simple fraction as 0.5/1.

2. Then, multiply both numerator and denominator by 10 for every number after the decimal point ie. 0.5*10/1*10 which will give 5/10.

3. Then, reduce this fraction by dividing it by its common factor or multiples.

4. And on dividing and solving, 5/10 will become 1/2. 

And so the final value that we get on converting 0.5 as a fraction comes out to be ½.