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Step1: Find a common denominator
The denominators are 12 and 3. The least common denominator is 12. Rewrite $\frac{1}{3}$ with denominator 12: $\frac{1}{3}=\frac{1\times4}{3\times4}=\frac{4}{12}$
Step2: Subtract the fractions
Now subtract $\frac{4}{12}$ from $\frac{7}{12}$: $\frac{7}{12}-\frac{4}{12}=\frac{7 - 4}{12}=\frac{3}{12}$
Step3: Simplify the result
Simplify $\frac{3}{12}$ by dividing numerator and denominator by their greatest common divisor, which is 3: $\frac{3\div3}{12\div3}=\frac{1}{4}$
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$\frac{1}{4}$