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\frac{0.012}{0.02}
Multiply 0.4 and 0.03 to get 0.012.
\frac{12}{20}
Expand \frac{0.012}{0.02} by multiplying both numerator and the denominator by 1000.
\frac{3}{5}
Reduce the fraction \frac{12}{20} to lowest terms by extracting and canceling out 4.