If the Price of Gold at the Morning Fixing in London

question 14

Multiple Choice

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

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Definitions:

Quintiles

Statistical values that divide a set of data into five equal parts, so that each part represents 1/5th of the sampled population.

Percentage Shares

Represent the portions or fractions, expressed as a percentage, of a whole divided among entities or allocated for specific purposes.

Poverty Line

A calculated income level used as a threshold to determine the minimum amount of income a family or individual needs to afford basic living expenses.

Poverty Rate

The percentage of the population that lives below the poverty line, indicating the level of economic deprivation in a community.