Minimum 16/1. When mixing 2-stroke fuel, keep in mind a little more oil is safer than a little less. Go for TC-W3 oil as that’s a water cooled motor. Also, ethanol-free gasoline is safer for old motors than regular modern gas.
Vinegar should get rid of the rust. It’s a good idea to give the tank a thorough rinse afterwards to get all the acid (and rust particles) out. Then blow the rinsing water out with an air compressor before filling the tank with mixed fuel, or shake a little oil inside the tank, so it won’t rust again!