Suppose we have two rationals, $\frac{a}b$ and $\frac{c}d$. I daresay anyone with some form of mathematical education would disagree that our result would be $\frac{a}b\times \frac{c}d=\frac{ac}{bd}$. That is, we multiply our numerators to get the result numerator and we multiply the denominator to get the result denominator. However, mathematically speaking, why do we do this?
If we consider the canonical definition of multiplication (i.e. repeated addition) in the case where we have two integers, say $3$ and $4$, we would come up with $(3\times 4) = (4 + 4 + 4)$. If this is so (and hopefully it is) what does it mean mathematically to add $\frac{c}d$ to itself $\frac{a}b$ times?
After doing a bit of research, all I've managed to come up with is this image. 
Unfortunately, I don't see how this has anything to do with multiplication and seems to me like little more than a tool for teaching grade schoolers.
This also led me to think about how we multiply decimal numbers. For example, $(0.2) \times (0.4) = 0.08$ (i.e. $2\times 4$ with the decimal moved over a number of places equal to the number significant digits past the decimal).
My intuition tells me that the answer to one of these will provide the answer to the other.
Lastly, excuse me if this question seems silly, but I've pondered it quite a bit and can't come up with anything mathematically rigerous.
EDIT: I changed all literal values to be arbitrary values (as they should have been originally).
EDIT 2: Please note that I am PERFECTLY CAPABLE of multiplying fractions together in any way shape or form. This is NOT a post about how to multiply fractions. This post is about fundamentally understanding what it means to multiply a pair of fractions together.
It means that whatever you get in the end, if you add it to itself 3 times, you'll get 1/4. So... Suppose $$\frac{1}{a} \cdot \frac{1}{b} = \frac{1}{c}$$ Then this is like saying that: $$\frac{1}{a} = \frac{1}{c} + \dots (b \text{ times}) \dots + \frac{1}{c}$$ which is $$\frac{1}{a} = \frac{b}{c}$$ then you can cross multiply (no division, here) and you'll get $c = ab$.