Explain and tell me step-by-step.
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£1 is worth $1.95. If it fell in value by 20%, i.e. by $0.39 (=0.20*1.95),
it would be worth $1.56 (=1.95-0.39). That's all there is to it!
it would be worth $1.56 (=1.95-0.39). That's all there is to it!
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Ratio of £ to $ = 1/1.95 .
The new value of £ is 0.8 (80% of original value) . Let the new value of $ be x .
0.8/x = 1/1.95 ;
x = 0.8 * 1.95 = 1.56 .
You will get $1.56 for £ 1.
The new value of £ is 0.8 (80% of original value) . Let the new value of $ be x .
0.8/x = 1/1.95 ;
x = 0.8 * 1.95 = 1.56 .
You will get $1.56 for £ 1.
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1 £ = $1.95
new £ = 0.8£
New exchange rate = 1.95 * 0.8 = 1.56 $
Answer
new £ = 0.8£
New exchange rate = 1.95 * 0.8 = 1.56 $
Answer
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If the pound fell in value by 20%, its new value would be equal to 80% its initial value,.i.e.
$ 1.95 × 80/100 = $ 1.56
$ 1.95 × 80/100 = $ 1.56
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£1 = $1.56