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Exchange rate between British pound sterling and US dollar

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Assume that the exchange rate between the British pound sterling and the U.S. dollar
is £1 = $2.03. Visiting Harrods, you find a rare Economics book that you simply cannot live without.
The price is £55.50 pounds. The dollar price is (approx):

Multiple choice:
a. $17
b. $39
c. $105
d. $170

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Solution Summary

This problem finds the exchange rate between British pound sterling and US dollar.

Solution provided by:
Edwin Sinclar, MBA
Education
  • MBA, Aspen University
  • Bachelor of Science , Berea College
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