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\frac{1}{100}\times 50=x
Multiply both sides by 50.
\frac{50}{100}=x
Multiply \frac{1}{100} and 50 to get \frac{50}{100}.
\frac{1}{2}=x
Reduce the fraction \frac{50}{100} to lowest terms by extracting and canceling out 50.
x=\frac{1}{2}
Swap sides so that all variable terms are on the left hand side.