Question

In 2010, $1.00 U.S. bought 8.24 Chinese yuan and in 2012 it bought 6.64 Chinese yuan. How many U.S. dollars could 1 Chinese yuan purchase in 2010 and 2012?
a.2010: .12 U.S. dollars; 2012: .15 U.S. dollars
b.2010: 1.2 U.S. dollars; 2012: 1.5 U.S. dollars
c.2010: .82 U.S. dollars; 2012: .66 U.S. dollars
d.2010: .15 U.S. dollars; 2012: .11 U.S. dollars

Answer 1

Answer:

A.2010: .12 U.S. dollars; 2012: .15 U.S. dollars

Explanation:

Given that

In 2010

$1 bought 8.24 yuan

In 2012

$1 bought 6.64 yuan

Therefore

In 2010

1 Chinese yuan will buy (1 dollar × 1 Chinese yuan) ÷ 8.24 chinese yuan

= 1 ÷ 8.24

= 0.12 dollars

Also,

In 2012

1 Chinese yuan will buy (1 dollar × 1 Chinese yuan) ÷ 6.64 chinese yuan

= 1 ÷ 6.64

= 0.15 dollars

Note, conversion rates shows how much of one currency can be used to buy 1 of another currency. In this case, the comparison is between Chinese yuan and US dollars. It showed how how much Chinese yuan could be used in purchasing US dollar and vice versa.