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\frac{2\times 1}{3\times 8}
Multiply \frac{2}{3} times \frac{1}{8} by multiplying numerator times numerator and denominator times denominator.
\frac{2}{24}
Do the multiplications in the fraction \frac{2\times 1}{3\times 8}.
\frac{1}{12}
Reduce the fraction \frac{2}{24} to lowest terms by extracting and canceling out 2.