In the spirit of "let a fifth grader answer this," (see discussion area) here is the teaching point of how you would set up the problem:
(4 x 3 ) - 2 = ?
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y is 2 less than the product of 3 and x
2 < 4 * 3
-1
4 x 3 = 12. Therefore, any number less than 12 is less than the product of 4 and 3.
2/3 x 3/5