Ans: $\dfrac{x^7}{y^4}$
$\begin{array}{rcl}
\dfrac{(xy)^2}{x^{-5}y^6} & = & \dfrac{x^2y^2}{x^{-5}y^6} \\
& = & x^{2-(-5)}y^{2-6} \\
& = & x^7y^{-4} \\
& = & \dfrac{x^7}{y^4}
\end{array}$
$\begin{array}{rcl}
\dfrac{(xy)^2}{x^{-5}y^6} & = & \dfrac{x^2y^2}{x^{-5}y^6} \\
& = & x^{2-(-5)}y^{2-6} \\
& = & x^7y^{-4} \\
& = & \dfrac{x^7}{y^4}
\end{array}$
