In order to add fractions you must have them over a common denominator.
The lowest common denominator in that case is twelfths.
Ok, now to convert...
1 1/4 = 1 3/12
1 1/3 = 1 4/12
now the addition is easy
1 3/12 + 1 4/12 = 2 7/12
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A half/one half.
1 whole, or 1
74658
one third
one third