Question

you are reviewing your financials and find that your enterprising sales manager just sold a gift basket for $72 canadian dollars. the exchange rate is 1 canadian dollar = 0.76 u.s. dollars. how much is the sale worth in u.s. dollars?

Answer 1

The price of the gift basket in the U.S. dollar was $54.72.

What is the exchange rate?

The exchange rate is given as the amount given after deducting the exchange of one currency to another.

The given exchange rate of the Canadian dollar to the U.S. dollar is:

$\rm 1\;Canadian\;\ =0.76\;U.S.\;$

The gift basket sold by the manager was at the cost of $72 Canadian dollar. The exchange price in U.S. dollar is given as:

$\rm 72\;Candian \;\ =72\;\times\;0.76\;U.S.\;\ \\72\;Candian\;\ =54.72\;U.S.\;$

Thus, the price of the gift basket in the U.S. dollar was $54.72.

Learn more about exchange rate, here:

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