Convert 1/4 to 2/8; then 7/8 − 2/8 = 5/8.

Express 37.5% as a fraction in lowest terms.

37.5% = 37.5/100 = 375/1000 = 3/8 after dividing by 125.

Round 4.6782 to the nearest hundredth.

The digit in the thousandths place is 8, so round up: 4.68.

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What is 7/8 − 1/4?