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Math Help - currency exchange problem

  1. #1
    Newbie
    Joined
    Sep 2005
    Posts
    10

    HELP! currency exchange problem

    If the Canadian dollar appreciates by C$0.0017 relative to the pound, what will be the new value for pound per C$1.00?

    Answer is .4333 pounds per C$1.00

    There is a table here, I think the relevant info is:

    Per C$ .4330 pounds

    Per pound: 2.30 $C

    hopefully I've given the right information

    thanks!
    Last edited by kurtolios; October 12th 2005 at 05:03 PM. Reason: my table was messy
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  2. #2
    Junior Member
    Joined
    Aug 2005
    Posts
    53
    Hi,

    before the appreciation :
    1C$ -> 0.433 pounds
    ?C$-> 1 pound we find : ?=1/0.433 = 2.30947 C$

    after the appreciation the dollar is more valuable then before compared to the pound so we get less dollars for our 1 pound. We get exactly 0.0017 less dollars so

    1 pound -> 2.30947 - 0.0017 C$
    so 1 pound -> 2.30777 C$

    but we want

    ? pounds -> 1C$ having
    1 pound -> 2.30777 C$ we find : ? = 1/2.30777 = 0.4333 pounds per 1C$.

    Where I used "?" as is my unknown.

    How do you see the appreciation? Well appreciation means more money so before 1C$ gave us 0.433 pounds now it gives 0.4333 becaused it raised in value compared to the pound. It is 0.0003 pounds more.
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