5 1/3* £- 1=1 2/9

Treat the expression as a linear equation in £: (5 1/3) × £ − 1 = 1 2/9.

Convert to improper fractions: 5 1/3 = 16/3, 1 2/9 = 11/9.

So (16/3)£ − 1 = 11/9. Add 1 to both sides: (16/3)£ = 11/9 + 1 = 20/9. Solve for £: £ = (20/9) ÷ (16/3) = (20/9) × (3/16) = 60/144 = 5/12.

Answer: £ = 5/12 ≈ 0.4167.