Question

If last week the British pound was worth $1.62 and this week is worth $1.60, it...

If last week the British pound was worth $1.62 and this week is worth $1.60, it has _____ against the U.S. dollar by _____.

Group of answer choices

depreciated; 1.23%

appreciated; 1.23%

depreciated; 1.25%

appreciated; 1.25%

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Answer #1

Hello Sir/ Mam

YOUR REQUIRED ANSWER IS OPTION A : Depreciated : 1.23%

As we can now purchase lesser dollar for pound, hence, pound's value has decreased and by 0.02/1.62 = 1.23%

I hope this solves your doubt.

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