1,2+(1,05-0,4•1,5)

Final value: 1,65 (using decimal commas).

Reason:

• 0,4 × 1,5 = 0,6
• 1,05 − 0,6 = 0,45
• 1,2 + 0,45 = 1,65

So the result is 1,65 (or 1.65 in dot-decimal notation). If you prefer a fraction, 1,65 = 33/20.