Correct option is B

The fraction 4/5 is equal to 0.8 and 1/2 is equal to 0.5. Therefore, we need to find a fraction between 0.5 and 0.8.
Option (a), 8/9, is approximately 0.89, which is greater than 0.8.
Option (b), 7/9, is approximately 0.78, which is between 0.5 and 0.8.
Option (c), 1/3, is approximately 0.33, which is less than 0.5.
Option (d), 2/5, is approximately 0.4, which is less than 0.5.
Therefore, the fraction 7/9 is less than 4/5 and greater than 1/2.