To the nearest two decimal place, the decimal expansion of the fraction 1/3 is 0.33.
How to convert fractions to decimal
The decimal expansion of the given improper fraction 1/3 can be determined by dividing denominator by the numerator. By doing so, we find how many times does 3 goes in 1;
i.e.

Add one zero to the numerator, we have:
remainder 1, if we add another zero to the numerator, we get:

And it keeps repeating itself, so we can infer that the decimal expansion of the fraction 1/3 gives a non-terminating decimal of 0.3333.
We can conclude that to the nearest two decimal place, the decimal expansion of the fraction 1/3 is 0.33.