Yes because 1/4+1/12 = 1/3
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One fourth is three twelfths. So one twelfth plus three twelfths is four twelfths, which is also one third.
if you're asking what is one third of one fourth, then it's one third times one fourth. you multiply the numerators and you multiply the denominators and you get one twelfth.
Seven and one twelfth
One Twenty Fourth
One Sixths