If the exchange rate is 1 USD = 0.65 GBP, how many British pound sterling are needed to obtain 520 USD without a transaction fee?
Answer
A
858 GBP
B
520 GBP
C
338 GBP
D
800 GBP
Explanation
The exchange rate means each US dollar costs 0.65 British pounds. Multiply 520 USD by 0.65 GBP per USD: 520 × 0.65 = 338 GBP, so the correct choice is 338 GBP.
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