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2y=2-\frac{1}{4}
Subtract \frac{1}{4} from both sides.
2y=\frac{8}{4}-\frac{1}{4}
Convert 2 to fraction \frac{8}{4}.
2y=\frac{8-1}{4}
Since \frac{8}{4} and \frac{1}{4} have the same denominator, subtract them by subtracting their numerators.
2y=\frac{7}{4}
Subtract 1 from 8 to get 7.
y=\frac{\frac{7}{4}}{2}
Divide both sides by 2.
y=\frac{7}{4\times 2}
Express \frac{\frac{7}{4}}{2} as a single fraction.
y=\frac{7}{8}
Multiply 4 and 2 to get 8.