Let's solve the given expression step by step:

1. Multiply $\frac{2}{5} \times \frac{7}{4}$: $\frac{2}{5} \times \frac{7}{4} = \frac{2 \times 7}{5 \times 4} = \frac{14}{20} = \frac{7}{10}$

2. Subtract 1 from the result: $\frac{7}{10} - 1 = \frac{7}{10} - \frac{10}{10} = -\frac{3}{10}$

Thus, the final result is: $-\frac{3}{10}$

Would you like more details or have any questions?

Here are 5 related questions you might find useful:

1. How do you simplify fractions when multiplying?
2. What is the process for converting a whole number to a fraction for subtraction?
3. How can you perform operations with fractions that have different denominators?
4. What are the rules for converting improper fractions to mixed numbers?
5. How can negative results be interpreted in different contexts?

Tip: When subtracting fractions, always ensure the denominators are the same. If they aren't, convert them to a common denominator before proceeding.