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\begin{array}{l}\phantom{16)}\phantom{1}\\16\overline{)762}\\\end{array}
Use the 1^{st} digit 7 from dividend 762
\begin{array}{l}\phantom{16)}0\phantom{2}\\16\overline{)762}\\\end{array}
Since 7 is less than 16, use the next digit 6 from dividend 762 and add 0 to the quotient
\begin{array}{l}\phantom{16)}0\phantom{3}\\16\overline{)762}\\\end{array}
Use the 2^{nd} digit 6 from dividend 762
\begin{array}{l}\phantom{16)}04\phantom{4}\\16\overline{)762}\\\phantom{16)}\underline{\phantom{}64\phantom{9}}\\\phantom{16)}12\\\end{array}
Find closest multiple of 16 to 76. We see that 4 \times 16 = 64 is the nearest. Now subtract 64 from 76 to get reminder 12. Add 4 to quotient.
\begin{array}{l}\phantom{16)}04\phantom{5}\\16\overline{)762}\\\phantom{16)}\underline{\phantom{}64\phantom{9}}\\\phantom{16)}122\\\end{array}
Use the 3^{rd} digit 2 from dividend 762
\begin{array}{l}\phantom{16)}047\phantom{6}\\16\overline{)762}\\\phantom{16)}\underline{\phantom{}64\phantom{9}}\\\phantom{16)}122\\\phantom{16)}\underline{\phantom{}112\phantom{}}\\\phantom{16)9}10\\\end{array}
Find closest multiple of 16 to 122. We see that 7 \times 16 = 112 is the nearest. Now subtract 112 from 122 to get reminder 10. Add 7 to quotient.
\text{Quotient: }47 \text{Reminder: }10
Since 10 is less than 16, stop the division. The reminder is 10. The topmost line 047 is the quotient. Remove all zeros at the start of the quotient to get the actual quotient 47.