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To find the number of students in the class, we need to determine the greatest common divisor (GCD) of 72 and 96.
The prime factorization of 72 is 2^3 * 3^2.
The prime factorization of 96 is 2^5 * 3^1.
To find the GCD, we take the highest power of each common prime factor. Therefore, the GCD of 72 and 96 is 2^3 * 3^1 = 8 * 3 = 24.
Therefore, there are 24 students in the teacher's class.