Converting 3040 to the lowest form.
Dividing the numerator and the denominator by HCF of 30 and 40 equals to 10 we get,
3040=30÷1040÷10=34
Converting 1216 to the lowest form
Dividing the numerator and the denominator by HCF of 12 and 16 equals to 4 we get,
1216=12÷416÷4=34
As the lowest forms of both the fractions are equal hence, 3040 and1216 are equivalent fractions.
Therefore, The given statement is True.