AFP
CTP · Question #900
(Topic 9) A company purchased merchandise that cost C$155,000 from a Canadian supplier and then resold the merchandise for US$135,000. What rate of exchange must the company have obtained to realize…
The correct answer is D. 1.7033 C$/US$. See the full explanation below for the reasoning.
Question
- (Topic 9)
A company purchased merchandise that cost C$155,000 from a Canadian supplier and then resold the merchandise for US$135,000. What rate of exchange must the company have obtained to realize a gross profit of US$44,000 on this transaction?
Options
- A0.3259 US$/C$
- B1.1500 US$/C$
- C0.5871 C$/US$
- D1.7033 C$/US$
How the community answered
(56 responses)- A5% (3)
- B9% (5)
- C2% (1)
- D84% (47)
Community Discussion
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