Question

rob is going over his currency exchange receipts from his trip to japan and south korea. when he was in japan, he exchanged us dollars for japanese yen at a rate of 1:87.441, and when he was in south korea, he exchanged japanese yen for south korean won at a rate of 1:12.395. to three decimal places, what was the exchange rate of us dollars to south korean won?
a. 1:0.092
b. 1:7.055
c. 1:99.836
d. 1:1,083.831

Explanation:

Identify the given exchange rates

Using the Currency Exchange Rates knowledge point

$$
LATEXBLOCK0
$$

Calculate the direct exchange rate from USD to KRW

Using the Currency Exchange Rates knowledge point

$$
LATEXBLOCK1
$$

Round to three decimal places and match the option

Using the Currency Exchange Rates knowledge point

$$
LATEXBLOCK2
$$

Answer:

• a. 1:0.092
• b. 1:7.055
• c. 1:99.836
• d. 1:1,083.831 (Correct answer)