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12-\frac{1}{2}
Reduce the fraction \frac{50}{100} to lowest terms by extracting and canceling out 50.
\frac{24}{2}-\frac{1}{2}
Convert 12 to fraction \frac{24}{2}.
\frac{24-1}{2}
Since \frac{24}{2} and \frac{1}{2} have the same denominator, subtract them by subtracting their numerators.
\frac{23}{2}
Subtract 1 from 24 to get 23.