Could you provide examples from real-life scenarios where the multiplication of simple fractions is commonly applied?

Multiplication of simple fractions is commonly applied in various fields like cooking, construction, financial calculations, healthcare, and design for combining quantities. For example, in finance, if an investment offers a quarterly return rate of 2/7 and another investment provides a monthly return rate of 4/9, by multiplying these fractions gives 8/63 which is total compounded return on the investments for the year.