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\frac{80}{120}\times 1
Divide 100 by 100 to get 1.
\frac{2}{3}\times 1
Reduce the fraction \frac{80}{120} to lowest terms by extracting and canceling out 40.
\frac{2}{3}
Multiply \frac{2}{3} and 1 to get \frac{2}{3}.