Math Problem Statement
Suppose USD 1 equals AUD1.50 and EUR0.80. The exchange rate between the Australian Dollar and the Euro will be?
Solution
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Math Problem Analysis
Mathematical Concepts
Currency Exchange
Proportional Reasoning
Division of Rates
Formulas
1 USD = 1.50 AUD → 1 AUD = 1 / 1.50 USD
1 USD = 0.80 EUR → 1 EUR = 1 / 0.80 USD
Exchange Rate (AUD to EUR) = (1 AUD in USD) / (1 EUR in USD)
Theorems
Inverse relationship of exchange rates
Suitable Grade Level
Grades 9-12