Actually, the reason $\boldsymbol{\frac{4}{2} = \frac{2}{1}}$ is that we define it to be so.
What do I mean? Suppose you know what the integers are, and you want to define the rational numbers from that. How do you do it? Well, you need to define
What a rational number is;
What it means when you write $x + y$ or $x \cdot y$ when $x, y$ are rational;
What it means for two rational numbers to be equal.
For (1), you define the rational numbers as the set of ordered pairs $(p,q)$, where $(p,q)$ represents the numbers $\frac{p}{q}$, and you require that $q \ne 0$.
For (2), you define addition and multiplication in the usual way.
And for (3), you define
$$
(p,q) = (r, s) \iff ps = qr
$$
i.e., in the more familiar notation
$$
\frac{p}{q} = \frac{r}{s} \iff ps = qr
$$
so in particular
$$
\frac{4}{2} = \frac{2}{1} \text{ since } 4 \cdot 1 = 2 \cdot 2.
$$
I suppose a more interesting question is,
why do we define it this way?
Well, we want every rational number to have a unique additive and multiplicative inverse, we want addition and multiplication to be associative, and so on.
And we want the notation $\frac{3}{4}$ to capture what we mean when we say that it is "three fourths" or "three parts out of four".
The exercise may also eliminate the confusion itself, as often happens
– user139388 May 17 '14 at 05:09