How many times will the information volume of a text of twenty-four characters

How many times will the information volume of a text of twenty-four characters decrease when it is converted from 16-bit encoding to 1-byte encoding?

In 1-byte encoding, 8 bits are allocated to store one character of the alphabet in memory.

In 16-bit encoding, 24 * 16 = 384 bits are needed to store a text of 24 characters. In 8-bit encoding, 24 * 8 = 192 bits are needed to store the same text.

To determine how much the information volume of the text will decrease, it is necessary to divide the size of the original text by the size of the final one: 384: 192 = 2.

Consequently, the information volume will be halved.