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\frac{0.0417-0.0024}{0.0417}
Multiply 1.2 and 0.002 to get 0.0024.
\frac{0.0393}{0.0417}
Subtract 0.0024 from 0.0417 to get 0.0393.
\frac{393}{417}
Expand \frac{0.0393}{0.0417} by multiplying both numerator and the denominator by 10000.
\frac{131}{139}
Reduce the fraction \frac{393}{417} to lowest terms by extracting and canceling out 3.