Any time both numbers are even, it can be reduced.
6/40 = 3/20
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3 over 10; and 12 over 40 (they're all the same if you reduce them)
6/40, as a percentage = 100*6/40 = 15%
No, not all of those fractions are equivalent. 5/20 reduces to 1/4. 8/40, 3/15, and 6/30 reduce to 1/5, so they are equivalent.
40/6 = 20/3
11/40 is in its lowest terms.