You can exchange $1 for either .9146 euro or .7249 British pounds. What is the cross-rate in terms of pounds per euro?
| Solution: | |||
| Cross-rate British pounds per Euro is | £.7926/€ | ||
| Working Notes: | |||
| Notes: | To get cross rate we have use normal unitary method for solution | ||
| Euro exchange rate | |||
| $1 = Euro .9146 | 1 equation | ||
| British pound exchange rate | |||
| $1 = £ 0.7249 | 2nd equation | ||
| From 1st equation & 2nd equation | |||
| $1 = $1 | |||
| Euro .9146 = £ 0.7249 | |||
| Euro 1 = £ (0.7249/.9146) | |||
| Euro 1 = £ 0.792586923 | |||
| Euro 1 = £ 0.7926 | |||
| Hence | Cross-rate | ||
| pounds per euro is | |||
| British pounds 0.7926 per Euro | |||
| Please feel free to ask if anything about above solution in comment section of the question. | |||
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