Home » A trader bought an engine for $15,000.00 outside Nigeria. If the exchange rate is $0.075 to…

A trader bought an engine for $15,000.00 outside Nigeria. If the exchange rate is $0.075 to…

A trader bought an engine for $15,000.00 outside Nigeria. If the exchange rate is $0.075 to N1.00, how much did the engine cost in Naira?

  • A.
    N250,000.00
  • B.
    N200,000.00
  • C.
    N150,000.00
  • D.
    N100,000.00
Correct Answer: Option B
Explanation

N1.00 = $0.075
N X = $15,000
X = (frac{1.00 times 15000}{0.075})
= N200,000.00