usually, as far as size of the file is concerned, jpeg gives the most choice (among the common formats) Just try exporting to jpeg aaat 80% quallity. Also most photos from cameras are too big in canvas size. Just try scaling it down to 50% by 50%. You will see a big difference in size. Make sure to keep the original as any editing done to the jpeg file will further reduce the quality. I recommend irfan view for such conversions. It is simple and has a slew of options.
Yeah.. JPEG is best for compression if you wanna retain the quality. Use photoshop or any other image editing software.. reduce the image size to 1024*768 which is best for all purposes.. and while saving, it shows the estimated size with quality.. and i suppose 80-90% quality may result in ur expectation.
mainating resolution to 1024*786 is a good process...
one more quick tip would be... open the file in MS paint... and save it once more in JPEG format... MS Paint by default saves in optimal quality which i have seen reduces the size a lot...
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