Question

the exchange rate between non-fixed currencies continuously fluctuates. the following chart shows the exchange rate of the pound sterling to the japanese yen over a period of six days.

\

$$\begin{array}{|c|c|} \\hline \\text{day} & \\text{\\pounds}:\\text{\\yen} \\\\ \\hline \\text{monday} & 1:148.176 \\\\ \\hline \\text{tuesday} & 1:144.209 \\\\ \\hline \\text{wednesday} & 1:149.890 \\\\ \\hline \\text{thursday} & 1:141.014 \\\\ \\hline \\text{friday} & 1:138.650 \\\\ \\hline \\text{saturday} & 1:143.007 \\\\ \\hline \\end{array}$$

if grace traded \yen 34,712 for \pounds 242.73, on what day did she make her exchange?
a. monday
b. tuesday
c. thursday
d. saturday

Explanation:

Calculate the exchange rate

Using the Currency Conversion knowledge point

$$ \text{Exchange Rate } (\text{Yen per Pound}) = \frac{34712}{242.73} \approx 143.007 $$

Match the rate to the table

Using the Table Reading knowledge point

$$
LATEXBLOCK0
$$

Answer:

• a. Monday
• b. Tuesday
• c. Thursday
• d. Saturday (Correct answer)