We can solve the problem using a system of equations based on the given conditions:
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The sum of \( x \) and \( y \): \[ x + y = 11 \]
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The difference of \( x \) and \( y \): \[ x - y = 5 \]
Now we can solve this system of equations.
First, we can add the two equations:
\[ (x + y) + (x - y) = 11 + 5 \]
This simplifies to:
\[ 2x = 16 \]
Dividing both sides by 2 gives:
\[ x = 8 \]
Next, we can substitute \( x = 8 \) back into the first equation to find \( y \):
\[ 8 + y = 11 \]
Solving for \( y \) gives:
\[ y = 11 - 8 = 3 \]
Now we have \( x = 8 \) and \( y = 3 \). To find the value of \( xy \):
\[ xy = 8 \times 3 = 24 \]
Therefore, the value of \( xy \) is \( \boxed{24} \).