The exchange rate between the US dollar and the sol (Peru) is $1 to 3.31 soles. How many soles would you get if you exchanged $100 in US Dollars?

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Quizplus · Accepted Answer

The exchange rate between the US dollar and the sol (Peru) is $1 to 3.31 soles. How many soles would you get if you exchanged $100 in US Dollars? In this problem, you are asked to determine the amount of money you would obtain through an exchange of currencies. We know that the exchange rate between soles and the U.S. dollar is 3.31 soles for every U.S. dollar. If we were to right it as a ratio, it would look like: 3.31 : 1 Step 1: Represent the exchange rate as a fraction. In order to perform this conversion, we need to write the exchange rate (the ratio) as a fraction. The numerator should be the currency you would like to convert to (soles) and the denominator will be the currency you have (U.S. dollar). ^3.31/₁ Step 2: Multiply the exchange rate fraction by the amount you would like to exchange: 100 • ^3.31/₁ = ³³¹/₁ = 331

The Exchange Rate Between the US Dollar and the Sol