Currently, 1 British pound equals 1.62 U.S. dollars and 1 U.S. dollar equals 1.62 Swiss francs. What is the cross exchange rate between the pound and the franc?
A) 1 British pound equals 3.2400 Swiss francs
B) 1 British pound equals 2.6244 Swiss francs
C) 1 British pound equals 1.8588 Swiss francs
D) 1 British pound equals 1.0000 Swiss francs
E) 1 British pound equals 0.3810 Swiss francs

Question

Quizplus · Accepted Answer

To find the cross exchange rate, we need to multiply the exchange rate of pounds to dollars with the exchange rate of dollars to francs. Therefore, 1 British pound equals 1.62 U.S. dollars and 1 U.S. dollar equals 1.62 Swiss francs, so 1 British pound equals 1.62 x 1.62 Swiss francs. Simplifying the calculation, we get 1 British pound equals 2.6244 Swiss francs (rounded to four decimal places).

Currently, 1 British Pound Equals 1