If the price of gold at the morning fixing in London was $5310 per lb, what would a kilogram of gold have cost in £ (pounds)? (Assume an exchange rate of $1.00 = £0.545)
A)£1310
B)£3510
C)£6370
D)£10400
E)£17100

Question

Quizplus · Accepted Answer

1 lb = 0.453592 kg 
Therefore, the price of 1 kg of gold in USD would be: 
$5310/0.453592 = $11,700 per kg

Now, we use the exchange rate to convert USD to pounds: 
$1.00 = £0.545 
Therefore, 1kg of gold would cost: 
£11,700 x 0.545 = £6,370

So the answer is C.

If the Price of Gold at the Morning Fixing in London