If a British importer can purchase 12,000 Canadian Dollar for 8,000 British Pound, the rate of exchange between the two currencies:

Name: If a British importer can purchase 12,000 Canadian Dollar for 8,000 British Pound, the rate of exchange between the two currencies:
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Question

Quizplus · Accepted Answer

The exchange rate can be calculated as:
Exchange rate = Canadian Dollar / British Pound
Exchange rate = 12,000 / 8,000
Exchange rate = 1.5
Therefore, 1 pound is equal to 1.5 Canadian dollars. Hence, the answer is D.

If a British Importer Can Purchase 12,000 Canadian Dollar for 8,000