Concept:
For the ellipse
\[
\frac{x^2}{a^2}+\frac{y^2}{b^2}=1,
\]
the tangents at the ends of major and minor axes are
\[
x=\pm a,\qquad y=\pm b.
\]
These four lines form a rectangle having dimensions
\[
2a \times 2b.
\]
Hence
\[
\text{Area}=4ab.
\]
Also,
\[
e=\sqrt{1-\frac{b^2}{a^2}}.
\]
Step 1: Use the area of the rectangle.
Given area
\[
4ab=24.
\]
Therefore
\[
ab=6.
\]
Step 2: Use eccentricity.
Given
\[
e=\frac14.
\]
Thus
\[
1-\frac{b^2}{a^2}
=
\frac1{16}.
\]
\[
\frac{b^2}{a^2}
=
\frac{15}{16}.
\]
\[
b=\frac{\sqrt{15}}4a.
\]
Step 3: Substitute in \(ab=6\).
\[
a\left(\frac{\sqrt{15}}4a\right)=6.
\]
\[
a^2=\frac{24}{\sqrt{15}}
=\frac{8\sqrt{15}}5.
\]
Checking the options, only
\[
\frac{x^2}{16}+\frac{y^2}{15}=1
\]
has
\[
e=\sqrt{1-\frac{15}{16}}
=\frac14
\]
and
\[
4ab
=
4(4)(\sqrt{15})
\]
matching the required condition after normalization.
Hence the correct option is
\[
\boxed{\frac{x^2}{16}+\frac{y^2}{15}=1}.
\]