Practicality and value of mathematics can be verified when different problems that we face in life are resolved through mathematical knowledge. This study intends to identify whether the fraction teaching is being taught and learned at current elementary schools for students to recognize practicality and value of mathematical knowledge and to have the ability to apply the concept when solving problems in the real world. Accordingly, contextual problems and noncontextual problems are proposed around fractional arithmetic area, and compared and analyze the achievement level and problem solving processes of them. Analysis showed that there was significant difference in achievement level and solving process between contextual problems and noncontextual problems. To instruct more meaningful learning for student, contextual problems including historical context or practical situation should be presented for students to experience mathematics of creating mathematical knowledge on their own.