Final Answer:
The conversion rate from pounds to US dollars is 1 pound = 1.25 US dollars, as per option 1. This means for every pound, Owen and Mollie would receive 1.25 US dollars, ensuring accurate and consistent currency exchange calculations.
Step-by-step explanation:
The given conversion rates are expressed as ratios of pounds to US dollars. In this case, the correct conversion rate is 1 pound to 1.25 US dollars, as stated in option 1. To verify this, consider a practical example: if Owen and Mollie converted 2 pounds into US dollars, the calculation would be 2 pounds * 1.25 US dollars/pound = 2.50 US dollars. This aligns with the conversion rate provided in option 1. It's crucial to select the conversion rate that ensures accurate and consistent calculations for any amount converted.
Understanding conversion rates is essential when dealing with different currencies to avoid financial discrepancies. The provided rates are in the form of a fraction, with the numerator representing the equivalent amount in US dollars for one pound. In this case, 1.25 US dollars for every pound. This conversion rate is the basis for any currency exchange between pounds and US dollars. Whether dealing with small or large amounts, using the correct conversion rate ensures precision in financial transactions and accurate budgeting for Owen and Mollie's currency exchange needs.
In conclusion, choosing the accurate conversion rate is pivotal for financial transactions involving different currencies. The correct rate, 1 pound = 1.25 US dollars, provides a reliable benchmark for Owen and Mollie's currency conversion, ensuring transparency and precision in their monetary dealings.