Identical pairs of boots are sold in London, in Geneva and in Paris. These boots have a price of £115 in London. 189 Swiss francs in Geneva and 174 euros in Paris. The exchange rates are £1=1.39 Swiss francs,£1=1..27 euros. Are the boots the best value for money in London or on Geneva or in Paris? You must show how you get your answer.
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5
Answer:
London
Step-by-step explanation:
The givens are:
- Price is 115 pounds in London.
- Price is 189 Franks in Geneva.
- Price is 174 Euros in Paris.
- 1 pound = 1.39 Franks.
- 1 pound = 1.27 Euros.
Let the reference currency be the English pound, therefore, we will convert the Franks and Euros to pounds with the given exchange rates.
In Geneva: the price will be = 189/1.39 = 135.97 ≅ 136 pounds.
In Paris: the price will be = 174/1.27 = 137 pounds.
Therefore, the boots have the best value for money in London.
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0
Answer:
London
Step-by-step explanation:
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