The question is ambiguous. There are two plain readings:
In the first, 5 - 1/3 = 4 2/3 or four and two thirds. Expressed as a decimal, this is equal to 4.6 recurring (that is, 4.6666...).
In the second, 5 - one-third OF 5 is 5 - 5/3 is 10/3, or 3 1/3, or three and one-third.
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2 and one third... Duhhh.
2 and 5/6
Find the "common denominator". 2/5 is 6/15. So 1 fifteenth minus 6 fifteenths is minus 5 fifteenths , or minus one third
5 1/3 minus 2 2/3 = 2 2/3
5/6 or .833 (repeating)