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WAEC Mathematics 2015 Question 3

Question 3

Commercial Arithmetic

A trader bought an engine for $15,000.00 outside Nigeria. If the exchange rate is $0.075 to N1.00, how much did the engine cost in naira?

  1. A.N250,000.00
  2. B.N200,000.00
  3. C.N150,000.00
  4. D.N100,000.00
Show the answer and explanation

Answer: B (N200,000.00)

Explanation

Each naira buys $0.075, so the cost is 15 000 ÷ 0.075 = N200,000.