Assume the Canadian dollar is equal to $.90 and the Argentine peso is equal to $.30. The value of the Canadian dollars is _____ Argentine pesos.

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07-02-2022
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Assume the Canadian dollar is equal to $.90 and the Argentine peso is equal to $.30. The value of the Canadian dollars is _____ Argentine pesos.

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Ayokenny2001idn Ayokenny2001idn · Answer 1 · 2022-02-21T05:40:56-05:00

The value of the Canadian dollars is 3 Argentine pesos.

What is currency conversion?

Conversion conversion refers to the ratio between two currencies, most commonly used in foreign exchange markets. It shows how much of one currency is needed to exchange for the equivalent value of another currency.

Given the above, let :

CAD/ARS = rate of canadian dollar in terms of argentine peso

CAD/USD = rate of canadian dollar in terms of US Dollar = $0.90

ARS/USD = rate of argentine peso in terms of US Dollar = $0.30

Here, since the Canadian dollar and Agentine peso have US dollar as their common variable currency (that is the currency which can change its amount for one unit of another currency), the exchange rate of Canadian dollar in terms of Argentine peso is given by:

CAD/ARS = {(CAD / USD) / (ARS / USD)}

CAD/ARS = $0.9 / $0.3

CAD/ARS = 3

Therefore, 1 Canadian dollar = 3 Argentine peso.

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What is currency conversion?

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