Answer:
7/24 or about 0.29
Explanation:
when multiplying fractions you first have to remember that:
a/b * c/d = a*c / b*d
If you remember that then its not hard to calculate:
7/8 * 1/3 = 7*1 / 8*3 = 7/24
Hope i could help :D
Dont be afraid to ask questions :)