The table below shows a few different exchange rates for £1 (GBP). Danica has recently moved to Canada and only uses Canadian dollars (CAD) currency now. However she has found that she accidentally kept £20 in cash. She decides to exchange the money for Canadian dollars. How many CAD does she receive?1 GBP=USD1.29AUD1.88EUR1.16CAD1.68
Question
The table below shows a few different exchange rates for £1 (GBP). Danica has recently moved to Canada and only uses Canadian dollars (CAD) currency now. However she has found that she accidentally kept £20 in cash. She decides to exchange the money for Canadian dollars. How many CAD does she receive?1 GBP=USD1.29AUD1.88EUR1.16CAD1.68
Solution
To find out how many Canadian dollars (CAD) Danica will receive, we need to multiply the amount she has in GBP (£20) by the exchange rate from GBP to CAD.
From the table, we know that £1 GBP equals 1.68 CAD.
So, we multiply £20 by 1.68 to find out how many CAD Danica will receive:
20 GBP * 1.68 CAD/GBP = 33.6 CAD
So, Danica will receive 33.6 Canadian dollars for her £20.
Similar Questions
An analyst gathers the following exchange rate quotes:CAD/EUR 1.0718EUR/GBP 0.9463CAD/EUR is the amount of CAD per 1 EUR.EUR/GBP is the amount of EUR per 1 GBP.The GBP/CAD (amount of GBP per 1 CAD) cross-rate is closest to:A.0.8829.B.0.9860.C.1.0142.
A plc receives $100,000 from a customer in the US. The exchange rate is $/£ 1.6250 – 1.6310. How many £’s will A plc receive?
Samira bought this present in France.She paid 44.85 French Francs for it.9.75 French Francs equal £1What was the cost of the present in pounds and pence?
Suppose you observe the following exchange rates: €1 = $1.30; £1 = $2.10. Calculate the euro-pound exchange rate.
Suppose that a new trade agreement between Australia and Canada causes the exchange rate to change from CAD 0.9 /AUD to CAD 0.8 /AUD. Which currency has depreciated as a result of this trade agreement and by what percentage? CAD by 11.1% AUD by 11.1% AUD by 12.5% Neither currency has depreciated CAD by 12.5%
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.