1. Stating the problem: Find one third of eleven sixteenths, which means calculate $\frac{1}{3} \times \frac{11}{16}$. 2. Formula used: To multiply fractions, multiply the numerators and multiply the denominators: $$\frac{a}{b} \times \frac{c}{d} = \frac{a \times c}{b \times d}$$ 3. Applying the formula: $$\frac{1}{3} \times \frac{11}{16} = \frac{1 \times 11}{3 \times 16} = \frac{11}{48}$$ 4. Explanation: We multiply the top numbers (numerators) together and the bottom numbers (denominators) together. Since 1 times 11 is 11, and 3 times 16 is 48, the product is $\frac{11}{48}$. 5. Final answer: $$\frac{11}{48}$$