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\left(\frac{12}{20}-\frac{5}{20}\right)\times \frac{2}{3}
Least common multiple of 5 and 4 is 20. Convert \frac{3}{5} and \frac{1}{4} to fractions with denominator 20.
\frac{12-5}{20}\times \frac{2}{3}
Since \frac{12}{20} and \frac{5}{20} have the same denominator, subtract them by subtracting their numerators.
\frac{7}{20}\times \frac{2}{3}
Subtract 5 from 12 to get 7.
\frac{7\times 2}{20\times 3}
Multiply \frac{7}{20} times \frac{2}{3} by multiplying numerator times numerator and denominator times denominator.
\frac{14}{60}
Do the multiplications in the fraction \frac{7\times 2}{20\times 3}.
\frac{7}{30}
Reduce the fraction \frac{14}{60} to lowest terms by extracting and canceling out 2.