Typically, it would be a good thing to completely rewrite your paper. Make sure that anything that survives in the revised paper that your teacher suggested revising (if there is anything) is changed in way she advised. The only exception to the idea that completely revising your paper, including the way you approach the subject, is a good thing would be in a situation where your teacher specifically said to keep the general ideas and just revise those places marked.
New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.