What is the exchange rate between dollars and Swiss francs if one dollar is convertible into 1/20 ounce of gold and one Swiss franc is convertible into 1/40 ounce of gold?

What is the exchange rate between dollars and Swiss francs if one dollar is convertible into 1/20 ounce of gold and one Swiss franc is convertible into 1/40 ounce of gold?

Question
Ratios, rates, proportions
asked 2021-01-23
What is the exchange rate between dollars and Swiss francs if one dollar is convertible into 1/20 ounce of gold and one Swiss franc is convertible into 1/40 ounce of gold?

Answers (1)

2021-01-24
Given: 1 dollar=\(\displaystyle\frac{{1}}{{20}}\) ounce of gold
1 Swiss franc=\(\displaystyle\frac{{1}}{{40}}\) ounce of gold
Since \(\displaystyle\frac{{1}}{{20}}=\frac{{2}}{{40}}={2}\cdot\frac{{1}}{{40}}:\)
1 dollar=\(\displaystyle\frac{{1}}{{20}}\) ounce of gold
\(\displaystyle={2}\cdot\frac{{1}}{{40}}\) ounce of gold \(\displaystyle={2}\cdot{1}\) Swiss franc =2 Swiss franc
Thus the exchange rate between dollars and Swiss francs is 2 Swiss francs for every dollar.
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