The product of two fractions that are each between 0 and 1 is also between 0 and 1.

They would be any fraction between 0 and 1.

Example- 1/3 * 1/2 = 1/6 (They all are less than one)

                1/5 * 1/8 = 1/40

Yes, it is a true statement, that  product of two fractions that are each between 0 and 1 is also between 0 and 1.

For example

a=0.2

b=0.5

→a × b

=0.2 × 0.5

=0.10

Take ,another example

a=0.9

b=0.25

→a × b

=0.9 × 0.25

=0.225

In both the cases, number is less than 1, when you have multiplied two numbers between 0 and 1.