In France, grapes are 1.95 euros per kilogram. What is the costof grapes, in dollars per pound, if the exchange rate is 1.14dollars/euro? (2.6)

Verified step by step guidance

1. Identify the given values: 1.95 euros per kilogram for grapes and an exchange rate of 1.14 dollars per euro.
2. Convert the cost from euros to dollars using the exchange rate: multiply 1.95 euros by 1.14 dollars/euro.
3. Convert the cost from per kilogram to per pound: use the conversion factor 1 kilogram = 2.20462 pounds.
4. Divide the cost in dollars per kilogram by the number of pounds in a kilogram to find the cost in dollars per pound.
5. Combine the conversions to express the final cost in dollars per pound.

Key Concepts

Currency Conversion

Currency conversion involves changing the value of one currency into another based on the current exchange rate. In this case, to find the cost of grapes in dollars, you need to multiply the price in euros by the exchange rate, which indicates how many dollars one euro is worth.

Unit Conversion

Unit conversion is the process of converting a measurement from one unit to another. Here, you need to convert the price of grapes from euros per kilogram to dollars per pound, which requires understanding the relationship between kilograms and pounds (1 kilogram is approximately 2.20462 pounds).

Price Calculation

Price calculation involves determining the total cost based on given rates and quantities. In this scenario, after converting the currency and units, you will calculate the final price per pound by dividing the total cost in dollars by the number of pounds, ensuring accurate financial assessment.