Today, You Can Exchange $1 for £0

question 103

Multiple Choice

Today, you can exchange $1 for £0.5087. Last week, £1 was worth $1.9582. How much profit or loss would you now have if you had converted £100 into dollars last week?

• A) loss of ₤0.57
• B) loss of ₤0.39
• C) loss of ₤0.07
• D) profit of ₤0.23
• E) profit of ₤0.59

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