Before World War I,$20.67 was needed to buy one ounce of gold and FF 310.00 would also buy one ounce of gold.What was the exchange rate between the French franc and the US dollar?
A)FF0.0667/$
B)FF14.976/$
C)FF6407.7/$
D)$6407.7/FF

Question

Quizplus · Accepted Answer

To find the exchange rate between FF and $, we can set up a proportion:

$20.67 = 1 oz of gold = FF310

We want to know how many FF are equal to $1, so we can rearrange the proportion:

$20.67/FF310 = $1/x

Cross-multiplying gives us:

$20.67x = FF310

Dividing both sides by $20.67:

x = FF310/$20.67

x ≈ FF14.976 per $1

Therefore, the exchange rate between FF and $ is FF14.976/$.