Exchange Rates in a Particular Year $1 = 5.3 francs $1 = 1.6 marks An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in dollars? : Crackverbal Support

Exchange Rates in a Particular Year $1 = 5.3 francs $1 = 1.6 marks An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in Print

Modified on: Tue, 12 Oct, 2021 at 12:33 PM

Concept: The question tests on the basics of Profit/Loss

Solution:

A NEW OG 2021 QUESTION

The price of buying (C.P) in dollars = 480 / 1.6

=300$
(As $1 = 1.6 marks)

The price of selling the table (S.P) in dollars = 2385 / 5.3

=450$
(As $1 = 5.3 francs)

Hence Profit of the dealer = SP-CP

= 450-300 = 150$ (OPTION D)

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Exchange Rates in a Particular Year $1 = 5.3 francs $1 = 1.6 marks An American dealer bought a table in Germany for 480 marks and sold the same table in France for 2,385 francs. What was the dealer's gross profit on the two transactions in Print

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