3/2y=16/y+2

Multiply both sides by 1/16.

3/32=y+1/8

Subtract 1/8 from both sides:

4/32=1/8 for a common denominator

3/32=y+4/32

Subtract 4/32 from both sides:

- 1/32=y

Captain Obvious is wrong. His/her first step would lead to the following:

3/32y = 1/y - 1/8

Instead:

Multiply both sides by 2y to get rid of the denominators.

3 = 32 + 4y

Subtract 32 from both sides.

-29 = 4y

Divide both sides by 4.

-29/4 = Y