Imagine if £1 buys $1.95. If the £ fell in value by 20%, what would be the new exchange rate
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Imagine if £1 buys $1.95. If the £ fell in value by 20%, what would be the new exchange rate

[From: ] [author: ] [Date: 11-05-17] [Hit: ]
39 (=0.20*1.95),it would be worth $1.56 (=1.95-0.......
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!

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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.

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1 £ = $1.95
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

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£1 = $1.56
1
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