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\frac{3}{8}y=\frac{1}{2}-\frac{2}{5}
Subtract \frac{2}{5} from both sides.
\frac{3}{8}y=\frac{5}{10}-\frac{4}{10}
Least common multiple of 2 and 5 is 10. Convert \frac{1}{2} and \frac{2}{5} to fractions with denominator 10.
\frac{3}{8}y=\frac{5-4}{10}
Since \frac{5}{10} and \frac{4}{10} have the same denominator, subtract them by subtracting their numerators.
\frac{3}{8}y=\frac{1}{10}
Subtract 4 from 5 to get 1.
y=\frac{1}{10}\times \frac{8}{3}
Multiply both sides by \frac{8}{3}, the reciprocal of \frac{3}{8}.
y=\frac{1\times 8}{10\times 3}
Multiply \frac{1}{10} times \frac{8}{3} by multiplying numerator times numerator and denominator times denominator.
y=\frac{8}{30}
Do the multiplications in the fraction \frac{1\times 8}{10\times 3}.
y=\frac{4}{15}
Reduce the fraction \frac{8}{30} to lowest terms by extracting and canceling out 2.