Question

N the spring of 2008, petrol cost £1.029 per litre in london. on the same day, the exchange rate was $1 = £0.497. what was the price of london petrol in dollars ($) per gallon? (1 gal = 3.7854 l)

Answer 1

1 liter of petrol in London costs £1.029

Since 1 gallon consist of 3.7854 liters, the cost of 3.7854 liters is calculated as:

Cost of 1 gallon of petrol in London = 3.7854*1.029 =£3.8951766

Next, we convert the pounds (£) to dollar($)

Since the exchange rate is 1$ =£ 0.497

£3.8951766 in $ = £3.8951766/£ 0.497 = 7.837$

The price of London petrol in dollars ($) per gallon =$7.84 (Rounded to nearest cents)