Let x be 1, 2, 3 or 4
and y be 1, 4, 9 or 16.
Now, xy={1, 4, 9, 16, 2, 8, 18, 32, 3, 12, 27, 48, 4, 16, 36, 64}
Total number of possible outcomes = 16
Number of outcomes where product is less than 16
= 8
i.e., {1, 4, 9, 2, 8, 3, 12, 4}
∴ Required probability = 816=12