A dining table costs $3,000 in New York and the same table costs 5,000 euros in Rome. Thus, $1 is equal to:
A) 1 euro.
B) 2 euros.
C) 1.67 euros.
D) 0.6 euros.

Question

Quizplus · Accepted Answer

We can use the formula:

Exchange rate = Price in one currency / Price in another currency

To find the exchange rate, we can use the prices of the dining table in both New York and Rome:

Exchange rate = $3,000 / 5,000 euros
Exchange rate = 0.6

This means that $1 is equal to 0.6 euros. Therefore, the answer is choice letter D.

A Dining Table Costs $3,000 in New York and the Same