The Scene Time
node outputs the seconds as a float value at the Seconds output.
The Math
node with the setting Fraction returns the decimal places of a float value.
To better explain Fraction, I'll assume a frame rate of 24fps, and present the values in tabular form:
Frame |
Seconds |
Fraction |
48 |
2.0 (because ${48\over24} = 2$) |
0.0 |
49 |
2.042 (because ${49\over24} = 2.041666...$) |
0.042 |
50 |
2.083 (because ${50\over24} = 2.083333...$) |
0.083 |
51 |
2.125 |
0.125 |
52 |
2.167 |
0.167 |
53 |
2.208 |
0.208 |
54 |
2.25 |
0.25 |
55 |
2.292 |
0.292 |
56 |
2.333 |
0.333 |
57 |
2.375 |
0.375 |
58 |
2.417 |
0.417 |
59 |
2.458 |
0.458 |
60 |
2.5 |
0.5 |
61 |
2.542 |
0.542 |
62 |
2.583 |
0.583 |
63 |
2.625 |
0.625 |
64 |
2.667 |
0.667 |
65 |
2.708 |
0.708 |
66 |
2.75 |
0.75 |
67 |
2.792 |
0.792 |
68 |
2.833 |
0.833 |
69 |
2.875 |
0.875 |
70 |
2.917 |
0.917 |
71 |
2.958 |
0.958 |
72 |
3.0 |
0.0 |
The table shows that the value for Seconds is interpolated depending on the selected frame rate.
And since Fraction always returns only the decimal places of that float value, logically you will always get a value between $0 - 1$ (However, it should be noted that strictly speaking you will get a value between $0-0.999...$, and this value can never be exactly $1$, because fraction of course only represents the decimal places):

And exactly this value can be used as Factor for curves or similar elements, which also always lies in the range $0 - 1$.
In this way, you can, for example, create a repetition in combination with the node Sample Curve
, where a repetition occurs every second.
Another practical and simple example of use would be this one:
(Trimming the end point of a spiral and repeating every two seconds)