Set the given decimal equal to a variable.

Let $x$ be the decimal number.

$$x = 0.272727... \quad (1)$$

Since two digits (27) are repeating, multiply both sides of equation (1) by 100.

$$100x = 27.272727... \quad (2)$$

Subtracting the two equations eliminates the repeating decimal part.

$$100x - x = 27.272727... - 0.272727...$$ $$99x = 27$$

Divide both sides by 99.

$$x = \frac{27}{99}$$

Both the numerator and the denominator are divisible by 9.

$$x = \frac{27 \div 9}{99 \div 9}$$ $$x = \frac{3}{11}$$

The decimal 0.272727... expressed as a fraction is $\boxed{\frac{3}{11}}$.