This Error code 80240016 is common for all the Windows Operating systems when you try to install the windows update. It appears when Windows 10 or Windows 7 update system is broken or there are network related issues. To resolve this windows update Error code 80240016 , stop and then restart the Windows Update Service.
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How to fix Windows Update Error Code 80240016

Error code 0x80240016 can appear When you try to install windows update if client for Windows Update is unable to connect with the user token