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x, y - the lengths of the sides of the lot

The area of a rectangle is the product of the lengths of its sides. The area is 240 m².
[tex]xy=240[/tex]

It requires 64 m of fencing materials to enclose it, so its perimeter is 64 m. The perimeter of a rectangle is two times the sum of the lengths of its sides.
[tex]2(x+y)=64 \ \ \ \ \ \ |\div 2 \\ x+y=32 \ \ \ \ \ \ \ \ \ \ |-x \\ y=32-x[/tex]

Substitute 32-x for y in the first equation:
[tex]x(32-x)=240 \\ 32x-x^2=240 \\ -x^2+32x-240=0 \\ -x^2+12x+20x-240=0 \\ -x(x-12)+20(x-12)=0 \\ (-x+20)(x-12)=0 \\ -x+20=0 \ \lor \ x-12=0 \\ x=20 \ \lor \ x=12 [/tex]

[tex]y=32-x \\ \hbox{for } x=20: \\ y=32-20=12 \\ \\ \hbox{for } x=12: \\ y=32-12=20[/tex]

The dimensions of the lot are 12 m by 20 m.
The width of the lot is 12 m.