our ac motor run @ 72 hertz with frequency converter
has to be converted to 60
It all depends on the type of motor it is and its load.
Yes generally, but it will revolve faster, and you will not want to underhorse it in this application. Also, is it 3 phase or single phase? I would monitor the current under the maximum applied load. Variable frequency drives (VFD's) (Freq. drives) vary the Hertz to control speed.