If under freely fluctuating exchange rates,1 U.S.dollar exchanges for either 9 Swedish krona or 1.7 Swiss francs,1 Swedish krona exchanges for how many Swiss francs?
A) 0.111
B) 0.189
C) 0.588
D) 1.000
E) 5.294

Question

Quizplus · Accepted Answer

First, we need to find out the exchange rate between the Swedish krona and the Swiss franc.

To do this, we can use the exchange rate between the US dollar and each of these currencies:

1 USD = 9 SEK 
1 USD = 1.7 CHF

Now we can set up a proportion to find the exchange rate between SEK and CHF:

1.7 CHF / 1 USD = x SEK / 9 SEK

Solving for x, we get:

x = (1.7 CHF * 9 SEK) / 1 USD

x = 15.3 CHF / 1 USD

Therefore, 1 SEK exchanges for 15.3/9 = 1.7 CHF / 9 SEK = 0.18888888.. CHF

Rounding to the nearest thousandth, we get 0.189 CHF.

If Under Freely Fluctuating Exchange Rates,1 U