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\frac{1}{48}-\frac{3}{48}
Least common multiple of 48 and 16 is 48. Convert \frac{1}{48} and \frac{1}{16} to fractions with denominator 48.
\frac{1-3}{48}
Since \frac{1}{48} and \frac{3}{48} have the same denominator, subtract them by subtracting their numerators.
\frac{-2}{48}
Subtract 3 from 1 to get -2.
-\frac{1}{24}
Reduce the fraction \frac{-2}{48} to lowest terms by extracting and canceling out 2.