I am looking for a fraction that is less than5/6 and has a denominator of 8?

3/8 is your answer since 3/8 is less than 1/2 and 1/2 is less than 5/6. Your answer could also be 4/8 since 4/8=1/2

Well first find a multiple that 6 and 8 share like 48 so 6 times 8 = 48 so now you multiply 5 times 8 which is 40 so it is 40/48 now try 4 times 8 which is 32 now it is 32/48 now 32 divided by 8 is 4 and 48 divided by 8 is 4/8 which is lower than 5/6.