Question

Suppose the direct foreign exchange rates in U.S. dollars are: 1 Singapore dollar = $0.7025 1 Cyprus pound = $2.5132 Based on the information given above, how many U.S. dollars must be paid for a purchase of citrus fruits costing 10,000 Cyprus pounds?

Answer 1

In order to buy citrus fruits costing 10,000 Cyprus pounds 25,132 US dollars must be paid

Step-by-step explanation:

From the information in the question we already know that 1 Cyprus pound is 2.5132 US dollars so in order to find out how much dollars will be needed to purchase fruits worth 10,000 cyprus pounds we will multiply 10,000 by 2.5132.

10,000*2.5132= 25,132

So in order to buy citrus fruits costing 10,000 Cyprus pounds 25,132 US dollars must be paid