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4.99-\frac{1}{5}
Reduce the fraction \frac{20}{100} to lowest terms by extracting and canceling out 20.
\frac{499}{100}-\frac{1}{5}
Convert decimal number 4.99 to fraction \frac{499}{100}.
\frac{499}{100}-\frac{20}{100}
Least common multiple of 100 and 5 is 100. Convert \frac{499}{100} and \frac{1}{5} to fractions with denominator 100.
\frac{499-20}{100}
Since \frac{499}{100} and \frac{20}{100} have the same denominator, subtract them by subtracting their numerators.
\frac{479}{100}
Subtract 20 from 499 to get 479.