Question

Liza's cousin Marie bought her a ring for 250 euros in France. Liza wants to pay Marie for it in U.S. dollars. If the foreign exchange rate between the U.S. dollar and euro is 1:0.6, how much should Liza pay Marie?

Answer 1

416.67 dollars

Explanation:

the exchange rate between U.S. dollar and euro is given as

Exchange rate = 1:0.6

1 U.S. dollar /1 euro = 0.6

cross-multiplying both side

1 x 1 U.S. dollar = 0.6 x 1 euro

1 U.S. dollar = 0.6 euro

multiplying both side by 10

10 U.S. dollar = 0.6 x 10 euro

10 U.S. dollar = 6 euro

dividing both side by "6"

10 U.S. dollar/6 = 6 euro/6

(10/6) U.S. dollar = 1 euro

1 euro = (10/6) U.S. dollar

the ring was bought for 250 euros , we need to convert 250 euros in dollars.

multiplying both side by 250

250 x 1 euro = (250 x 10/6) U.S. dollar

250 euro = 416.67 U.S. dollar

so liza should pay 416.67 U.S. dollar to marie.