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\frac{1}{3}+\frac{3\times 1}{4\times 3}-\frac{1}{4}
Multiply \frac{3}{4} times \frac{1}{3} by multiplying numerator times numerator and denominator times denominator.
\frac{1}{3}+\frac{1}{4}-\frac{1}{4}
Cancel out 3 in both numerator and denominator.
\frac{4}{12}+\frac{3}{12}-\frac{1}{4}
Least common multiple of 3 and 4 is 12. Convert \frac{1}{3} and \frac{1}{4} to fractions with denominator 12.
\frac{4+3}{12}-\frac{1}{4}
Since \frac{4}{12} and \frac{3}{12} have the same denominator, add them by adding their numerators.
\frac{7}{12}-\frac{1}{4}
Add 4 and 3 to get 7.
\frac{7}{12}-\frac{3}{12}
Least common multiple of 12 and 4 is 12. Convert \frac{7}{12} and \frac{1}{4} to fractions with denominator 12.
\frac{7-3}{12}
Since \frac{7}{12} and \frac{3}{12} have the same denominator, subtract them by subtracting their numerators.
\frac{4}{12}
Subtract 3 from 7 to get 4.
\frac{1}{3}
Reduce the fraction \frac{4}{12} to lowest terms by extracting and canceling out 4.