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\frac{3}{2}\left(\frac{4}{12}-\frac{3}{12}\right)
Least common multiple of 3 and 4 is 12. Convert \frac{1}{3} and \frac{1}{4} to fractions with denominator 12.
\frac{3}{2}\times \frac{4-3}{12}
Since \frac{4}{12} and \frac{3}{12} have the same denominator, subtract them by subtracting their numerators.
\frac{3}{2}\times \frac{1}{12}
Subtract 3 from 4 to get 1.
\frac{3\times 1}{2\times 12}
Multiply \frac{3}{2} times \frac{1}{12} by multiplying numerator times numerator and denominator times denominator.
\frac{3}{24}
Do the multiplications in the fraction \frac{3\times 1}{2\times 12}.
\frac{1}{8}
Reduce the fraction \frac{3}{24} to lowest terms by extracting and canceling out 3.