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24/16 has a greatest common factor (GCF) of 8.
To simplify, you have to divide both sided by the GCF.
(24÷8)/(16÷8) = 3/2
So 3/2 is the final answer.
If your teacher wants you to convert the proper fraction into a mixed number, 3/2 can simplify down to 1 1/2.
Hope I helped. :)