Convert to percentages to understand the question better:
3/4 = 75%
4/5 = 80%
What is 80% of 75%?
Convert the percentages to decimals:
75% = 0.75
80% = 0.8
Calculate:
0.8 × 0.75 = 0.6
Convert back to original problem's format (fraction):
0.6 = 60% = 6/10 = 3/5
Miguel used 3/5 pounds of chocolate chips.