you can set ratios up the same way you can fractions:
(let's just say for now that they are equal)
\(\frac{16}{12} = \frac{64}{60}\)
simplify the fractions and you get:
\(\frac{4}{3} = \frac{16}{15}\)
That isn't true, so
\(\frac{4}{3}
eq \frac{16}{15}\)
so your answer is no,
16:12 and 64:60 are not equivalent
