1/3 and 3/8 have a lcd of 24 (8/24 and 9/24)
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The LCD of two fractions is the same as the LCM of their denominators.
LCD is the Lowest Common Denominator which is the lowest number into which the denominators of all the fractions will each divide exactly. Each of the fractions can then be converted to an equivalent fraction with the new denominator which then allows the fractions to be added and/or subtracted.
1/6 is one fraction. You need at least two fractions to find something in common.
When multiplying fractions, it is not necessary to find the LCD first.
It is easy: just convert to decimal fractions.