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\frac{47-5}{100}
Since \frac{47}{100} and \frac{5}{100} have the same denominator, subtract them by subtracting their numerators.
\frac{42}{100}
Subtract 5 from 47 to get 42.
\frac{21}{50}
Reduce the fraction \frac{42}{100} to lowest terms by extracting and canceling out 2.