Unfortunately you have not included the directions. Are you supposed to solve for x? or for y?
Suppose the directions say, "Solve for x." Then, clear out the decimal fraction by mult. both sides of the given equation by 10. This will give you the solution, that is, a formula for x in terms of y.
Simplify just means put together everything into one big thing. In this case that is just adding. To add a fraction and a decimal we have to convert the fraction into a decimal as well. The decimal form of 1/4 is 0.25, and as such, 3/4 is .75. This means we have -0.75+1.5. Adding a positive to a negative is the same thing as simply subtracting the first number from the second, or 1.5-0.75. This is .75. The answer is C.