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\frac{3}{10000}\times 1500
Expand \frac{0.03}{100} by multiplying both numerator and the denominator by 100.
\frac{3\times 1500}{10000}
Express \frac{3}{10000}\times 1500 as a single fraction.
\frac{4500}{10000}
Multiply 3 and 1500 to get 4500.
\frac{9}{20}
Reduce the fraction \frac{4500}{10000} to lowest terms by extracting and canceling out 500.