3/12 simplified is the same as 1/4. To simplify a fraction, you need to find the largest number that you can divide both the numerator and the denominator by. In the case of 3/12, that number is 3. When you divide both 3 and 12 by 3 you get a new answer of 1/4.
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70 ---- 120
9/12
3/5 = 6/10
3/9
Expressed as a proper fraction in its simplest form, 1/3 - 1/4 = 1/12 or one twelfth.