Step 1: Concept
The decay law is $N = N_0 e^{-\lambda t}$. Mean life $\tau = \frac{1}{\lambda}$.
Step 2: Meaning
Substitute $t = \tau = \frac{1}{\lambda}$ into the decay equation.
Step 3: Analysis
$N = N_0 e^{-\lambda(1/\lambda)} = N_0 e^{-1}$.
Step 4: Conclusion
The fraction remaining is $\frac{N}{N_0} = e^{-1} = \frac{1}{e}$.
Final Answer: (D)