If 1 British Pound Can Be Exchanged for 180 Cents

question 47

Multiple Choice

If 1 British pound can be exchanged for 180 cents of U.S.currency,what fraction should be used to compute the indirect quotation of the exchange rate expressed in British pounds?

• A)1/180
• B)1/.56
• C)1.8/1
• D)1/1.8

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Definitions:

Probability

A quantitative measure of the likelihood of a certain event or outcome, expressed as a number between 0 and 1.

Return

The profit or loss derived from an investment over a particular period, often expressed as a percentage of the investment's initial cost.

Inflation

The velocity of rise in the aggregate pricing of goods and services, reducing the power of the dollar.