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24x=5\times 8
Multiply both sides of the equation by 120, the least common multiple of 5,24.
24x=40
Multiply 5 and 8 to get 40.
x=\frac{40}{24}
Divide both sides by 24.
x=\frac{5}{3}
Reduce the fraction \frac{40}{24} to lowest terms by extracting and canceling out 8.