A half is a third of it. What is it?

A half is a third of it. What is it?

Let "it" be an arbitrary variable, let's call it x.

A third of 'it' means we divide x/3

The word is means equals, so we have:
x/3 = 1/2

Using our proportion calculator, we get:
x = 1.5 or 3/2 or 1 & 1/2