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No, 70 100's means 70 times 100, which is 7000. That does not count. If I am confused with 70 / 100, then you are correct.
70 pence/1 pound = 70 pence /100 pence = 70/100 = 7/10 or 0.770 pence/1 pound = 70 pence /100 pence = 70/100 = 7/10 or 0.770 pence/1 pound = 70 pence /100 pence = 70/100 = 7/10 or 0.770 pence/1 pound = 70 pence /100 pence = 70/100 = 7/10 or 0.7
70/100 is .7 as a decimal.
-70
7000 ÷ 100 = 70