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\frac{10^{3}}{2^{3}\times 5^{4}}
Cancel out 2^{2} in both numerator and denominator.
\frac{1000}{2^{3}\times 5^{4}}
Calculate 10 to the power of 3 and get 1000.
\frac{1000}{8\times 5^{4}}
Calculate 2 to the power of 3 and get 8.
\frac{1000}{8\times 625}
Calculate 5 to the power of 4 and get 625.
\frac{1000}{5000}
Multiply 8 and 625 to get 5000.
\frac{1}{5}
Reduce the fraction \frac{1000}{5000} to lowest terms by extracting and canceling out 1000.