1. The problem is to simplify the fraction $\frac{3}{47}$. 2. The formula for simplifying a fraction is to divide the numerator and denominator by their greatest common divisor (GCD). 3. Since 3 and 47 have no common divisors other than 1, the fraction is already in its simplest form. 4. Therefore, the simplified fraction is $\frac{3}{47}$.