If $f$ is a continuous function, one could say that $\displaystyle \lim_{n\to\infty} f\left( \frac n {1+n} \right) = f\left( \lim_{n\to\infty} \frac n {1+n} \right)$, but that's not what we have here: we have a different function $f$ for each value of $n$, so that as $n\to\infty$, the function $f$ keeps changing as $n$ grows.
You may recall that $\lim\limits_{n\to\infty} \left( 1 + \dfrac 1 n \right)^n = e$.
That's the same as $ \lim\limits_{n\to\infty} \left( \dfrac{n+1} n \right)^n = e$.
Here you have the limit of the reciprocal of that, and the reciprocal function is continuous, and that function does not keep changing as $n$ grows, so you end up with $1/e$.