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\frac{1}{2}\times \frac{2}{3}
Reduce the fraction \frac{50}{100} to lowest terms by extracting and canceling out 50.
\frac{1\times 2}{2\times 3}
Multiply \frac{1}{2} times \frac{2}{3} by multiplying numerator times numerator and denominator times denominator.
\frac{1}{3}
Cancel out 2 in both numerator and denominator.