If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria? - SchoolNGR

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If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for ...

If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria?

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A $0.05 = N1.00
B $0.06 =N1.00
C $0.11 =N1.00
D $0.12 =N1.00

Correct Answer: Option D

Explanation:

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