I have been studying functions and how to find the inverse of a function which so far I have found straight forward. However, I have had some difficulty while trying to find the inverse of function $f(X) = \frac{2}X$. I have the answer sheet to the question, which says the answer is "$f^{-1}(x) = \frac{2}x$".
I took the function to mean that the input maps to $2$ divided by $X$, so I thought the inverse would be $2$ multiplied by $X$, or "$f^{-1}(x) = 2 x$"
Am I making a mistake with the notation? I have found much more complicated functions easier to find the inverse of, I'm not sure what rookie mistake I'm making here.
Your error is understandable. Note however that, with $f(x) = \frac2x$ we have:
$$\begin{cases}f(1) = 2\\f(2) = 1\\f(4) = \frac12\\\cdots\end{cases}$$
so the inverse can't certainly be $f^{-1}(x) = 2x$ given that it will only work for one of the examples above. To find the inverse, just solve the equation
$$f(x) = \frac2x$$ for $x$. One usually writes that as $y = \frac2x$ and solves for $x$. The equation writes the image as a function of the object. Since you want to find the object as a function of the image, solve the equation for the object:
$$y = \frac2x \iff x = \frac2y \implies f^{-1}(x) = \frac2x$$