The following table shows the number of various foreign currencies required to b

Question

The following table shows the number of various foreign currencies required to buy a U.S. dollar in April 2011 and April 2016. Use this table to answer the following questions. Units of Foreign Currency Units of Foreign Currency per U.S. Dollar in April 2011 per U.S. Dollar in April 2016 0.8815 Euro per U.S. dollar Chinese yuan per U.S. dollar Indian rupee per 44.309 U.S. dollar Japanese yen per83.190 U.S. dollar British pounds per 0.610 U.S. dollar 0.6915 6.528 6.477 66.468 109.583 0699 Between April 2011 and April 2016, the price of a U.S. postage stamp increased from $0.41 to $0.46. The price of a U.S. postage stamp has increased approximately terms of Chinese yuan in terms of Indian rupees and in

Explanation / Answer

Option b is correct

In Indian Rupees:

2011: P = 0.41 x 44.309 = 18.167

2016: P = 0.46 x 66.468 = 30.575

Increase = 100 x (30.575 - 18.167)/18.167 = 68.3%

In Chinese Yuan:

2011: P = 0.41 x 6.528 = 2.676

2016: P = 0.46 x 6.427 = 2.956

Increase = 100 x (2.956 - 2.676) / 2.676= 10.5%

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