Yes, Both are equivalent.
<u>Step-by-step explanation:</u>
Step 1:
To find the equality between the given terms Use the BODMAS (Brackets Orders Division Multiplication Addition Subtraction)
RHS SIDE:

Equation after 1st modification

Equation after Second modification

Equation after Third modification
LCM 2,4,8 is 8
And taking LCM equation changes to 
Equation after Final modification
--------- 1
Step 2:
LHS SIDE:

By applying the BODMAS rule in the above equation we will get
------------ 2
From equations 1 & 2, the expression
is equivalent to 