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1-\frac{2}{1000}
Expand \frac{0.2}{100} by multiplying both numerator and the denominator by 10.
1-\frac{1}{500}
Reduce the fraction \frac{2}{1000} to lowest terms by extracting and canceling out 2.
\frac{500}{500}-\frac{1}{500}
Convert 1 to fraction \frac{500}{500}.
\frac{500-1}{500}
Since \frac{500}{500} and \frac{1}{500} have the same denominator, subtract them by subtracting their numerators.
\frac{499}{500}
Subtract 1 from 500 to get 499.