Suppose a Swedish krona is selling for $0.1286 and a Maltan lira is selling for $2.8148. What is the exchange rate (cross rate) of the Swedish krona to the Maltan lira?

Question

Suppose a Swedish krona is selling for [latex]\$ 0.1286[/latex] and a Maltan lira is selling for [latex]\$ 2.8148[/latex]. What is the exchange rate (cross rate) of the Swedish krona to the Maltan lira?

Accepted Answer

One dollar is worth [latex]7.776[/latex] Swedish kronor (1/0.1286) and one Maltan lira is worth [latex]2.8148[/latex] dollars. Thus, [latex]7.776[/latex] Swedish kronor per dollar times [latex]2.8148[/latex] dollars per Maltan lira equals 21.89 Swedish kronor per Maltan lira.

Question 21.1: Suppose a Swedish krona is selling for $0.1286 and a Maltan ...

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