Solution:

### Given:
- The drunkard takes **5 steps forward** (5 meters) and **3 steps backward** (3 meters).
- Each step is **1 meter** and takes **1 second**.
- There is a pit **11 meters** away.

### Correct Solution:

1. In **1 full cycle** (5 steps forward + 3 steps backward), the net distance covered is:
\[
5 - 3 = 2 \text{ meters}.
\]
This cycle takes **8 seconds**.

2. We need to find out how long it takes the drunkard to fall into the pit which is **11 meters** away.

### Step-by-step process:

- After **1 cycle** (8 seconds), the drunkard is at **2 meters**.
- After **2 cycles** (16 seconds), the drunkard is at **4 meters**.
- After **3 cycles** (24 seconds), the drunkard is at **6 meters**.

Now, in the **next (4th) cycle**, the drunkard will walk forward:

- After the first **5 steps forward** (which takes 5 seconds), he will move from **6 meters** to **11 meters**, falling into the pit.

### Total time:

\[
24 \text{ seconds} + 5 \text{ seconds} = 29 \text{ seconds}.
\]

Conclusion:
The drunkard will fall into the pit after **29 seconds**.