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