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\frac{400}{40000}\times 1
Divide 100 by 100 to get 1.
\frac{1}{100}\times 1
Reduce the fraction \frac{400}{40000} to lowest terms by extracting and canceling out 400.
\frac{1}{100}
Multiply \frac{1}{100} and 1 to get \frac{1}{100}.