Question

Statistics

Posted 2 months ago

```
The exchange rates for 3 currencies are given in the table below.
\begin{tabular}{llll}
\begin{tabular}{l}
Currency \\
being \\
exchanged
\end{tabular} & \begin{tabular}{l}
Cost of currency \\
being exchanged in \\
Thai baht (THB)
\end{tabular} & \begin{tabular}{l}
Cost of currency being \\
exchanged in Danish \\
krone (DKK)
\end{tabular} & \begin{tabular}{l}
Cost of currency \\
being exchanged in \\
Ghana cedi (GHS)
\end{tabular} \\
\hline \begin{tabular}{l}
Thai baht \\
(THB)
\end{tabular} & 1 & 0.2 & 0.125 \\
\begin{tabular}{l}
Danish krone \\
(DKK)
\end{tabular} & 5 & & 0.625 \\
\begin{tabular}{l}
Ghana cedi \\
(GHS)
\end{tabular} & 8 & 1 & \\
\hline
\end{tabular}
Which of the following is a correct exchange rate for the krone?
Choose 1 answer:
(A) 0.2 krone per baht
(B) 5
(C) 5 baht per krone
(D) 1.6 cedis per krone
(E) 5 krone per baht
Report a problem
```

Sign in to unlock the answer

Answer from Sia

Posted 2 months ago

Solution by Steps

step 1

Identify the exchange rate for the Danish krone in terms of the Ghana cedi from the table

step 2

The table shows that the cost of 1 Danish krone is 0.625 Ghana cedi

step 3

To find the exchange rate for the krone in terms of cedis, we need to express how many cedis one krone is equivalent to

step 4

The exchange rate is the reciprocal of the cost of 1 krone in cedis, which is $\frac{1}{0.625}$ cedis per krone

step 5

Calculate the reciprocal of 0.625 to find the exchange rate: $\frac{1}{0.625} = 1.6$ cedis per krone

Answer

The correct exchange rate for the krone in terms of cedis is 1.6 cedis per krone.

D

Key Concept

Exchange Rate Calculation

Explanation

The exchange rate is calculated as the reciprocal of the cost of one unit of currency in terms of another currency.

Not the question you are looking for? Ask here!

Enter question by text

Enter question by image

Upgrade to Asksia Pro

Join a AskSia's Pro Plan, and get 24/7 AI tutoring for your reviews, assignments, quizzes and exam preps.

Unlimited chat query usages

Strong algorithms that better know you

Early access to new release features

Study Other Question