$('.checkboxesmodel1').change(function() {
  var option2and1_model1 = $("#option2and1_model1");
  var divall = document.querySelector('.options');
  if (($('#id_model1_option2').prop('checked')) && ($('#id_model1_option1').prop('checked'))) {
    option2and1_model1.hide();
    divall.querySelector('p').innerText = '';
  } else if (($('#id_model1_option2').prop('checked'))) {
    option2and1_model1.show();
  } else if (($('#id_model1_option1').prop('checked'))) {
    option2and1_model1.hide();
    divall.querySelector('p').innerText = '';
  } else {
    option2and1_model1.hide();
    divall.querySelector('p').innerText = '';
  }
});

<script src="https://cdnjs.cloudflare.com/ajax/libs/jquery/3.3.1/jquery.min.js"></script>
#Div Code of the checkboxes
<div id="tblmodel1options">
  <label for="id_model1_option1">
        <img  id="tinypic_2"
          src="{% static 'img/MODEL1OPTION 1.png' %}"/>
        <div class="checkboxesmodel1" >
          <input name = "model1_option1" id="id_model1_option1" type="checkbox"     autocomplete="off" />   
        </div>
      </label>

  <label for="id_model1_option2">
        <img id="tinypic_3"
          src="{% static 'img/MODEL1OPTION 2.png' %}" />
        <div  class="checkboxesmodel1" >
          <input name = "model1_option2" type="checkbox" id="id_model1_option2" autocomplete="off" />    
        </div>
      </label>
</div>
#Div Code of the form fields
<div id="option2and1_model1" class="options">
  <p id="id_c"><strong>c:</strong>{{ form.c}} mm</p>
  <p id="id_h"><strong>h:</strong>{{ form.h}} mm</p>
</div>