This was given to me as a practice problem as preparation for the final exam. The only thing is I have no idea how to do the question, as we did not go over generating fractions in class. I googled what a generating fraction was, and I found some information about generating functions, but nothing too helpful.
The hint says to find the sum of the series. But I'm not sure how to find the series in the first place.
Any help would be much appreciated, thank you.

I don't really know what this refers to, but I think its highly probable that it means to find equivalent fraction. We have pretty standard method of dealing with this. Let this number be $x$. Then
$$1000x = 215.6262... \\ 100000x = 21562.6262... \\$$
Subtracting these two, we get:
$$ x = \frac{21347}{99000}$$