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mr_godi [17]
3 years ago
11

A goldsmith has $2 million of gold in his vaults. He issues $5 million in gold receipts. His gold holdings are what fraction of

the paper money (gold receipts) he has issued? LO33.1 a. 1/10. b. 1/5. c. 2/5. d. 5/5.
Business
1 answer:
stealth61 [152]3 years ago
8 0
He has 2 million gold holding
He has 5 million of paper money

the fraction = gold holding/paper money

                     = 2 million / 5 million
                     = 2/5

so the answer is C. 2/5
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