If a British pound equals 1837 South Korean won (the currency of South Korea), what is the British pound equivalent of a South Korean won?
A) 0.54 British pounds
B) 0.00054 British pounds
C) 0.1837 British pounds
D) 1.54 British pounds

Question

BlackTom AI · Accepted Answer

We start by understanding the exchange rate given: 1 British pound = 1837 South Korean won. This means that each won is worth a fraction of a pound equal to 1/1837.

Option A: 0.54 British pounds. This would imply 1 won is worth 0.54 pounds, which is vastly larger than 1/1837. Since 1/1837 is a tiny fraction, this option greatly overstated the value of a single won and is incorrect.

Option B: 0.00054 British pounds. This is a reasonable decimal approximation of 1/1837, because 1/1837 ≈ 0.0005439..., which rounds to 0.00054. This option aligns with the reciprocal relationship between pounds and won as dictated by the given rate.

Option C: 0.1837 British pounds. This would imply that 1 won equals 0.1837 pounds, which would correspond to 1 pound equaling about 5.44 won, contradicting the stated rate of 1837 won per pound. This is inconsistent with the exchange rate provided.

Option D: 1.54 British pounds. This would mean 1 won is worth more than the pound itself, which would imply 1 pound equals far fewer won than 1837, again contradicting the given rate. It's not mathematically compatible with 1 pound = 1837 won.

Putting it together, the correct interpretation is that the value of 1 won in pounds is the reciprocal of 1837, yielding a very small decimal, which matches Option B. The other options either inflate or misplace the magnitude, leading to contradictions with the stated rate.

ECON:3345:0001 Spr25 Quiz 7 Chs. 17, 18 & 19

If a British pound equals 1837 South Korean won (the currency of South Korea), what is the British pound equivalent of a South Korean won? A) 0.54 British pounds B) 0.00054 British pounds C) 0.1837 British pounds D) 1.54 British pounds

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