The price of a Swedish krona is $ 0.14 today. If it appreciates by 10% today, approximately how many…
After appreciation, the dollar price of one krona is $ 0.14 × 1.10 = $ 0.154. One dollar therefore buys 1/0.154 = 500/77 kronor, approximately 6.49351 kronor.
Choose your answer
The price of a Swedish krona is $ 0.14 today. If it appreciates by 10% today, approximately how many kronor will a dollar buy tomorrow?
Answer and explanation
Correct answer A
After appreciation, the dollar price of one krona is $ 0.14 × 1.10 = $ 0.154. One dollar therefore buys 1/0.154 = 500/77 kronor, approximately 6.49351 kronor.
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Karnataka SET (KSET)