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3-\frac{12}{10}
Divide 1500 by 500 to get 3.
3-\frac{6}{5}
Reduce the fraction \frac{12}{10} to lowest terms by extracting and canceling out 2.
\frac{15}{5}-\frac{6}{5}
Convert 3 to fraction \frac{15}{5}.
\frac{15-6}{5}
Since \frac{15}{5} and \frac{6}{5} have the same denominator, subtract them by subtracting their numerators.
\frac{9}{5}
Subtract 6 from 15 to get 9.