Suppose you are traveling in England and find that you can get 3 British pounds for every $5 you convert to British currency.The dollar price of the pound is
A) $0.60.
B) $1.50.
C) $1.67.
D) $3.
E) $5.

Question

Quizplus · Accepted Answer

We can set up a proportion to find the dollar price of the pound:

3 pounds / 5 dollars = 1 pound / x dollars

Solving for x, we get:

x = (5 dollars)(1 pound) / (3 pounds) = $1.67

Therefore, the dollar price of the pound is $1.67. The best choice is C.

Suppose You Are Traveling in England and Find That You