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\frac{4}{8}-\frac{1}{8}-\frac{1}{40}
Least common multiple of 2 and 8 is 8. Convert \frac{1}{2} and \frac{1}{8} to fractions with denominator 8.
\frac{4-1}{8}-\frac{1}{40}
Since \frac{4}{8} and \frac{1}{8} have the same denominator, subtract them by subtracting their numerators.
\frac{3}{8}-\frac{1}{40}
Subtract 1 from 4 to get 3.
\frac{15}{40}-\frac{1}{40}
Least common multiple of 8 and 40 is 40. Convert \frac{3}{8} and \frac{1}{40} to fractions with denominator 40.
\frac{15-1}{40}
Since \frac{15}{40} and \frac{1}{40} have the same denominator, subtract them by subtracting their numerators.
\frac{14}{40}
Subtract 1 from 15 to get 14.
\frac{7}{20}
Reduce the fraction \frac{14}{40} to lowest terms by extracting and canceling out 2.