? ?https://www.mathxl.com/Student/PlayerTest.aspx?testid 184523607&centen; in ye

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? ?https://www.mathxl.com/Student/PlayerTest.aspx?testid 184523607&centen; in yes Corporate Finance (1) Test: TEST 6 This Question: 1 pt https:/ ? Ched Dennis Robinson &I; 6/22/18 5:03 PM Time Remaining: 02:44:29 Submit Test 6 of 20 (5 complete) This Test: 20 pts possible Question Help ?? ALL MA What is the percentage change in price for an American importer of Indian rugs if the Indian rupee/U S dollar exchange rate goes from 12 rupes/S to 17 rupees /s BOOKS and the price of a rug is 55 rupees? (Select the best choice below) STUDY! A. -31 11% ®.uod B. 29 41 % ® TUTOR OC, 27.71% OD. E. 31.11% -29 41 % re bvec ou easy pact dit. ow

Explanation / Answer

The previous exchange rate was 12 rupees/dollar, So the value of 55 rupees was $(55/12)=$4.583

Now exchange rate is 17 rupees/dollar, so the value of 55 rupees is $(55/17)=$3.235

So the change is (3.235-4.583)*100/4.583=-29.41%

Option E is correct.

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