Explanation:
so, we leave a margin of 1 meter without carpet all around the hall.
that means we are carpeting the area of
(16-1)×(12-1) = 15 × 11 = 165 m²
the cost per m² (as you wrote in the definition) is 7615.
that means the total costs are
165 × 7615 = 1,256,475
you did not give the currency, but I think you made a typo at least with the price per m² (maybe it was $76.15).
use you calculator and do the last multiplication with the actual price per m².