Suppose the direct foreign exchange rates in U.S.dollars are:
1 Singapore dollar = $0.7025
1 Cyprus pound = $2.5132
-Based on the information given above,how many U.S.dollars must be paid for a purchase of citrus fruits costing 10,000 Cyprus pounds?
A)$25,132
B)$15,132
C)$3,979
D)$35,775

Question

Quizplus · Accepted Answer

First, we need to convert 10,000 Cyprus pounds to U.S. dollars using the exchange rate of 1 Cyprus pound = $2.5132.

10,000 Cyprus pounds * $2.5132/1 Cyprus pound = $25,132

Therefore, the answer is A. We need to pay $25,132 in U.S. dollars for the purchase of citrus fruits.

Suppose the Direct Foreign Exchange Rates in U