OK, let's crack this. We're given 123 and our task is to multiply it by 395. Essentially, we'll be adding 123 to itself 395 times.
Step 1: 0 + 123 = 123
Step 2: 123 + 123 = 246
Step 3: 246 + 123 = 369
Step 4: 369 + 123 = 492
Step 5: 492 + 123 = 615
Step 6: 615 + 123 = 738
Step 7: 738 + 123 = 861
Step 8: 861 + 123 = 984
Step 9: 984 + 123 = 1107
Step 10: 1107 + 123 = 1230
Step 11: 1230 + 123 = 1353
Step 12: 1353 + 123 = 1476
Step 13: 1476 + 123 = 1599
Step 14: 1599 + 123 = 1722
Step 15: 1722 + 123 = 1845
Step 16: 1845 + 123 = 1968
Step 17: 1968 + 123 = 2091
Step 18: 2091 + 123 = 2214
Step 19: 2214 + 123 = 2337
Step 20: 2337 + 123 = 2460
Step 21: 2460 + 123 = 2583
Step 22: 2583 + 123 = 2706
Step 23: 2706 + 123 = 2829
Step 24: 2829 + 123 = 2952
Step 25: 2952 + 123 = 3075
Step 26: 3075 + 123 = 3198
Step 27: 3198 + 123 = 3321
Step 28: 3321 + 123 = 3444
Step 29: 3444 + 123 = 3567
Step 30: 3567 + 123 = 3690
Step 31: 3690 + 123 = 3813
Step 32: 3813 + 123 = 3936
Step 33: 3936 + 123 = 4059
Step 34: 4059 + 123 = 4182
Step 35: 4182 + 123 = 4305
Step 36: 4305 + 123 = 4428
Step 37: 4428 + 123 = 4551
Step 38: 4551 + 123 = 4674
Step 39: 4674 + 123 = 4797
Step 40: 4797 + 123 = 4920
Step 41: 4920 + 123 = 5043
Step 42: 5043 + 123 = 5166
Step 43: 5166 + 123 = 5289
Step 44: 5289 + 123 = 5412
Step 45: 5412 + 123 = 5535
Step 46: 5535 + 123 = 5658
Step 47: 5658 + 123 = 5781
Step 48: 5781 + 123 = 5904
Step 49: 5904 + 123 = 6027
Step 50: 6027 + 123 = 6150
Step 51: 6150 + 123 = 6273
Step 52: 6273 + 123 = 6396
Step 53: 6396 + 123 = 6519
Step 54: 6519 + 123 = 6642
Step 55: 6642 + 123 = 6765
Step 56: 6765 + 123 = 6888
Step 57: 6888 + 123 = 7011
Step 58: 7011 + 123 = 7134
Step 59: 7134 + 123 = 7257
Step 60: 7257 + 123 = 7380
Step 61: 7380 + 123 = 7503
Step 62: 7503 + 123 = 7626
Step 63: 7626 + 123 = 7749
Step 64: 7749 + 123 = 7872
Step 65: 7872 + 123 = 7995
Step 66: 7995 + 123 = 8118
Step 67: 8118 + 123 = 8241
Step 68: 8241 + 123 = 8364
Step 69: 8364 + 123 = 8487
Step 70: 8487 + 123 = 8610
Step 71: 8610 + 123 = 8733
Step 72: 8733 + 123 = 8856
Step 73: 8856 + 123 = 8979
Step 74: 8979 + 123 = 9102
Step 75: 9102 + 123 = 9225
Step 76: 9225 + 123 = 9348
Step 77: 9348 + 123 = 9471
Step 78: 9471 + 123 = 9594
Step 79: 9594 + 123 = 9717
Step 80: 9717 + 123 = 9840
Step 81: 9840 + 123 = 9963
Step 82: 9963 + 123 = 10086
Step 83: 10086 + 123 = 10209
Step 84: 10209 + 123 = 10332
Step 85: 10332 + 123 = 10455
Step 86: 10455 + 123 = 10578
Step 87: 10578 + 123 = 10701
Step 88: 10701 + 123 = 10824
Step 89: 10824 + 123 = 10947
Step 90: 10947 + 123 = 11070
Step 91: 11070 + 123 = 11193
Step 92: 11193 + 123 = 11316
Step 93: 11316 + 123 = 11439
Step 94: 11439 + 123 = 11562
Step 95: 11562 + 123 = 11685
Step 96: 11685 + 123 = 11808
Step 97: 11808 + 123 = 11931
Step 98: 11931 + 123 = 12054
Step 99: 12054 + 123 = 12177
Step 100: 12177 + 123 = 12300
Step 101: 12300 + 123 = 12423
Step 102: 12423 + 123 = 12546
Step 103: 12546 + 123 = 12669
Step 104: 12669 + 123 = 12792
Step 105: 12792 + 123 = 12915
Step 106: 12915 + 123 = 13038
Step 107: 13038 + 123 = 13161
Step 108: 13161 + 123 = 13284
Step 109: 13284 + 123 = 13407
Step 110: 13407 + 123 = 13530
Step 111: 13530 + 123 = 13653
Step 112: 13653 + 123 = 13776
Step 113: 13776 + 123 = 13899
Step 114: 13899 + 123 = 14022
Step 115: 14022 + 123 = 14145
Step 116: 14145 + 123 = 14268
Step 117: 14268 + 123 = 14391
Step 118: 14391 + 123 = 14514
Step 119: 14514 + 123 = 14637
Step 120: 14637 + 123 = 14760
Step 121: 14760 + 123 = 14883
Step 122: 14883 + 123 = 15006
Step 123: 15006 + 123 = 15129
Step 124: 15129 + 123 = 15252
Step 125: 15252 + 123 = 15375
Step 126: 15375 + 123 = 15498
Step 127: 15498 + 123 = 15621
Step 128: 15621 + 123 = 15744
Step 129: 15744 + 123 = 15867
Step 130: 15867 + 123 = 15990
Step 131: 15990 + 123 = 16113
Step 132: 16113 + 123 = 16236
Step 133: 16236 + 123 = 16359
Step 134: 16359 + 123 = 16482
Step 135: 16482 + 123 = 16605
Step 136: 16605 + 123 = 16728
Step 137: 16728 + 123 = 16851
Step 138: 16851 + 123 = 16974
Step 139: 16974 + 123 = 17097
Step 140: 17097 + 123 = 17220
Step 141: 17220 + 123 = 17343
Step 142: 17343 + 123 = 17466
Step 143: 17466 + 123 = 17589
Step 144: 17589 + 123 = 17712
Step 145: 17712 + 123 = 17835
Step 146: 17835 + 123 = 17958
Step 147: 17958 + 123 = 18081
Step 148: 18081 + 123 = 18204
Step 149: 18204 + 123 = 18327
Step 150: 18327 + 123 = 18450
Step 151: 18450 + 123 = 18573
Step 152: 18573 + 123 = 18696
Step 153: 18696 + 123 = 18819
Step 154: 18819 + 123 = 18942
Step 155: 18942 + 123 = 19065
Step 156: 19065 + 123 = 19188
Step 157: 19188 + 123 = 19311
Step 158: 19311 + 123 = 19434
Step 159: 19434 + 123 = 19557
Step 160: 19557 + 123 = 19680
Step 161: 19680 + 123 = 19803
Step 162: 19803 + 123 = 19926
Step 163: 19926 + 123 = 20049
Step 164: 20049 + 123 = 20172
Step 165: 20172 + 123 = 20295
Step 166: 20295 + 123 = 20418
Step 167: 20418 + 123 = 20541
Step 168: 20541 + 123 = 20664
Step 169: 20664 + 123 = 20787
Step 170: 20787 + 123 = 20910
Step 171: 20910 + 123 = 21033
Step 172: 21033 + 123 = 21156
Step 173: 21156 + 123 = 21279
Step 174: 21279 + 123 = 21402
Step 175: 21402 + 123 = 21525
Step 176: 21525 + 123 = 21648
Step 177: 21648 + 123 = 21771
Step 178: 21771 + 123 = 21894
Step 179: 21894 + 123 = 22017
Step 180: 22017 + 123 = 22140
Step 181: 22140 + 123 = 22263
Step 182: 22263 + 123 = 22386
Step 183: 22386 + 123 = 22509
Step 184: 22509 + 123 = 22632
Step 185: 22632 + 123 = 22755
Step 186: 22755 + 123 = 22878
Step 187: 22878 + 123 = 23001
Step 188: 23001 + 123 = 23124
Step 189: 23124 + 123 = 23247
Step 190: 23247 + 123 = 23370
Step 191: 23370 + 123 = 23493
Step 192: 23493 + 123 = 23616
Step 193: 23616 + 123 = 23739
Step 194: 23739 + 123 = 23862
Step 195: 23862 + 123 = 23985
Step 196: 23985 + 123 = 24108
Step 197: 24108 + 123 = 24231
Step 198: 24231 + 123 = 24354
Step 199: 24354 + 123 = 24477
Step 200: 24477 + 123 = 24600
Step 201: 24600 + 123 = 24723
Step 202: 24723 + 123 = 24846
Step 203: 24846 + 123 = 24969
Step 204: 24969 + 123 = 25092
Step 205: 25092 + 123 = 25215
Step 206: 25215 + 123 = 25338
Step 207: 25338 + 123 = 25461
Step 208: 25461 + 123 = 25584
Step 209: 25584 + 123 = 25707
Step 210: 25707 + 123 = 25830
Step 211: 25830 + 123 = 25953
Step 212: 25953 + 123 = 26076
Step 213: 26076 + 123 = 26199
Step 214: 26199 + 123 = 26322
Step 215: 26322 + 123 = 26445
Step 216: 26445 + 123 = 26568
Step 217: 26568 + 123 = 26691
Step 218: 26691 + 123 = 26814
Step 219: 26814 + 123 = 26937
Step 220: 26937 + 123 = 27060
Step 221: 27060 + 123 = 27183
Step 222: 27183 + 123 = 27306
Step 223: 27306 + 123 = 27429
Step 224: 27429 + 123 = 27552
Step 225: 27552 + 123 = 27675
Step 226: 27675 + 123 = 27798
Step 227: 27798 + 123 = 27921
Step 228: 27921 + 123 = 28044
Step 229: 28044 + 123 = 28167
Step 230: 28167 + 123 = 28290
Step 231: 28290 + 123 = 28413
Step 232: 28413 + 123 = 28536
Step 233: 28536 + 123 = 28659
Step 234: 28659 + 123 = 28782
Step 235: 28782 + 123 = 28905
Step 236: 28905 + 123 = 29028
Step 237: 29028 + 123 = 29151
Step 238: 29151 + 123 = 29274
Step 239: 29274 + 123 = 29397
Step 240: 29397 + 123 = 29520
Step 241: 29520 + 123 = 29643
Step 242: 29643 + 123 = 29766
Step 243: 29766 + 123 = 29889
Step 244: 29889 + 123 = 30012
Step 245: 30012 + 123 = 30135
Step 246: 30135 + 123 = 30258
Step 247: 30258 + 123 = 30381
Step 248: 30381 + 123 = 30504
Step 249: 30504 + 123 = 30627
Step 250: 30627 + 123 = 30750
Step 251: 30750 + 123 = 30873
Step 252: 30873 + 123 = 30996
Step 253: 30996 + 123 = 31119
Step 254: 31119 + 123 = 31242
Step 255: 31242 + 123 = 31365
Step 256: 31365 + 123 = 31488
Step 257: 31488 + 123 = 31611
Step 258: 31611 + 123 = 31734
Step 259: 31734 + 123 = 31857
Step 260: 31857 + 123 = 31980
Step 261: 31980 + 123 = 32103
Step 262: 32103 + 123 = 32226
Step 263: 32226 + 123 = 32349
Step 264: 32349 + 123 = 32472
Step 265: 32472 + 123 = 32595
Step 266: 32595 + 123 = 32718
Step 267: 32718 + 123 = 32841
Step 268: 32841 + 123 = 32964
Step 269: 32964 + 123 = 33087
Step 270: 33087 + 123 = 33210
Step 271: 33210 + 123 = 33333
Step 272: 33333 + 123 = 33456
Step 273: 33456 + 123 = 33579
Step 274: 33579 + 123 = 33702
Step 275: 33702 + 123 = 33825
Step 276: 33825 + 123 = 33948
Step 277: 33948 + 123 = 34071
Step 278: 34071 + 123 = 34194
Step 279: 34194 + 123 = 34317
Step 280: 34317 + 123 = 34440
Step 281: 34440 + 123 = 34563
Step 282: 34563 + 123 = 34686
Step 283: 34686 + 123 = 34809
Step 284: 34809 + 123 = 34932
Step 285: 34932 + 123 = 35055
Step 286: 35055 + 123 = 35178
Step 287: 35178 + 123 = 35301
Step 288: 35301 + 123 = 35424
Step 289: 35424 + 123 = 35547
Step 290: 35547 + 123 = 35670
Step 291: 35670 + 123 = 35793
Step 292: 35793 + 123 = 35916
Step 293: 35916 + 123 = 36039
Step 294: 36039 + 123 = 36162
Step 295: 36162 + 123 = 36285
Step 296: 36285 + 123 = 36408
Step 297: 36408 + 123 = 36531
Step 298: 36531 + 123 = 36654
Step 299: 36654 + 123 = 36777
Step 300: 36777 + 123 = 36900
Step 301: 36900 + 123 = 37023
Step 302: 37023 + 123 = 37146
Step 303: 37146 + 123 = 37269
Step 304: 37269 + 123 = 37392
Step 305: 37392 + 123 = 37515
Step 306: 37515 + 123 = 37638
Step 307: 37638 + 123 = 37761
Step 308: 37761 + 123 = 37884
Step 309: 37884 + 123 = 38007
Step 310: 38007 + 123 = 38130
Step 311: 38130 + 123 = 38253
Step 312: 38253 + 123 = 38376
Step 313: 38376 + 123 = 38499
Step 314: 38499 + 123 = 38622
Step 315: 38622 + 123 = 38745
Step 316: 38745 + 123 = 38868
Step 317: 38868 + 123 = 38991
Step 318: 38991 + 123 = 39114
Step 319: 39114 + 123 = 39237
Step 320: 39237 + 123 = 39360
Step 321: 39360 + 123 = 39483
Step 322: 39483 + 123 = 39606
Step 323: 39606 + 123 = 39729
Step 324: 39729 + 123 = 39852
Step 325: 39852 + 123 = 39975
Step 326: 39975 + 123 = 40098
Step 327: 40098 + 123 = 40221
Step 328: 40221 + 123 = 40344
Step 329: 40344 + 123 = 40467
Step 330: 40467 + 123 = 40590
Step 331: 40590 + 123 = 40713
Step 332: 40713 + 123 = 40836
Step 333: 40836 + 123 = 40959
Step 334: 40959 + 123 = 41082
Step 335: 41082 + 123 = 41205
Step 336: 41205 + 123 = 41328
Step 337: 41328 + 123 = 41451
Step 338: 41451 + 123 = 41574
Step 339: 41574 + 123 = 41697
Step 340: 41697 + 123 = 41820
Step 341: 41820 + 123 = 41943
Step 342: 41943 + 123 = 42066
Step 343: 42066 + 123 = 42189
Step 344: 42189 + 123 = 42312
Step 345: 42312 + 123 = 42435
Step 346: 42435 + 123 = 42558
Step 347: 42558 + 123 = 42681
Step 348: 42681 + 123 = 42804
Step 349: 42804 + 123 = 42927
Step 350: 42927 + 123 = 43050
Step 351: 43050 + 123 = 43173
Step 352: 43173 + 123 = 43296
Step 353: 43296 + 123 = 43419
Step 354: 43419 + 123 = 43542
Step 355: 43542 + 123 = 43665
Step 356: 43665 + 123 = 43788
Step 357: 43788 + 123 = 43911
Step 358: 43911 + 123 = 44034
Step 359: 44034 + 123 = 44157
Step 360: 44157 + 123 = 44280
Step 361: 44280 + 123 = 44403
Step 362: 44403 + 123 = 44526
Step 363: 44526 + 123 = 44649
Step 364: 44649 + 123 = 44772
Step 365: 44772 + 123 = 44895
Step 366: 44895 + 123 = 45018
Step 367: 45018 + 123 = 45141
Step 368: 45141 + 123 = 45264
Step 369: 45264 + 123 = 45387
Step 370: 45387 + 123 = 45510
Step 371: 45510 + 123 = 45633
Step 372: 45633 + 123 = 45756
Step 373: 45756 + 123 = 45879
Step 374: 45879 + 123 = 46002
Step 375: 46002 + 123 = 46125
Step 376: 46125 + 123 = 46248
Step 377: 46248 + 123 = 46371
Step 378: 46371 + 123 = 46494
Step 379: 46494 + 123 = 46617
Step 380: 46617 + 123 = 46740
Step 381: 46740 + 123 = 46863
Step 382: 46863 + 123 = 46986
Step 383: 46986 + 123 = 47109
Step 384: 47109 + 123 = 47232
Step 385: 47232 + 123 = 47355
Step 386: 47355 + 123 = 47478
Step 387: 47478 + 123 = 47601
Step 388: 47601 + 123 = 47724
Step 389: 47724 + 123 = 47847
Step 390: 47847 + 123 = 47970
Step 391: 47970 + 123 = 48093
Step 392: 48093 + 123 = 48216
Step 393: 48216 + 123 = 48339
Step 394: 48339 + 123 = 48462
Step 395: 48462 + 123 = 48585

So, 123*395 = 48585