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Gcb Foreign Exchange Transaction Form

Gcb Foreign Exchange Transaction Form

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Instructions and help about Gcb Foreign Exchange Transaction Form

so this question is all about currency conversion this can always seem a bit daunting because you're given a lot of data and it's usually quite wordy but we're going to break it down step by step so that you can find the easiest way to do it so we're presented with a table that looks like this and we're told that on day two we purchase £5,500 worth of dollars and on day four we convert these dollars back into pounds we need to find out what the value of our currency is now so write this out as follows £5,500 colon X we write it as a ratio and underneath this write the currency conversion so we know that1 is $1.62 so write it under like so now if you divide £5,500 by one and X by 1.62 we can try and work out what x equals where X represents the number of dollars now 5 ,500 divided 1 is just £5,500 so if we multiply both sides by 1.62 you'll be able to get X on its own so you get X is equal to £5,500 Times by 1.62 so we get the answer

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