Austin has two options:
Option 1: Pay $40 for unlimited rides
Option 2: pay $16 plus $2 per ride
For the two options to end up costing the same amount, the second option needs to end up being $40, because the payment in the first option is already fixed to $40.
That answers the first question:
What is the cost? $40
Now we need to find how many rides are needed for the second option to cost $40.
We will call the number of rides "x", and thus, since in the 2nd option there is an admission cost of 16 and a cost of $2 per ride, the expression that represents the cost is in option 2 is:

And since we know that the cost has to be $40 to be equal to the cost of option 1:

And now we solve this equation for the number of rides x.
First, Subtract 16 to both sides of the equation:

On the left side, 16-16 cancel each other, and on the right side 40-16 is 24, thus:

Finally, divide both sides of the equation by 2 to find the value of x:

The number of rides for the second option to be equal in cost to the first option is 12 rides.
Answer:
The cost is $40 and the number of rides is 12.