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If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same...

Economics
JAMB 2000
If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria?
  • A. $0.05 = N1.00
  • B. $0.06 =N1.00
  • C. $0.11 =N1.00
  • D. $0.12 =N1.00
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Correct Answer: Option D
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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