Решение:
1. $$\frac{5}{21} : \frac{8}{7} = \frac{5}{21} \cdot \frac{7}{8} = \frac{5 \cdot 7}{21 \cdot 8} = \frac{5 \cdot 1}{3 \cdot 8} = \frac{5}{24}$$
2. $$\frac{5}{24} - \frac{1}{12} = \frac{5}{24} - \frac{2}{24} = \frac{5-2}{24} = \frac{3}{24} = \frac{1}{8}$$
Ответ: $$\frac{1}{8}$$