Please can someone kindly aid me with correct solution. The question ask:
If EUR 100 were used to purchase British Pounds in Year 1, what would be their approximate value if they were kept for a year (assume no interest earned) and then exchanged for HKD?
Value of 1 Euro (Euro) Y1 Y2 British Pound (GBP) = 1.52 1.62 Hong Kong dollar (HKD) = 12.3 11.2 Choices A] HKD 2,626 B] HKD 1,038 C] HKD 937 D] HKD 1,667 E] HKD 1,847
1st attempt
1.52 (Y1 GBP) / 12.3 ( Y1 HKD) = 0.123577235 0.123577235 * 100 (Euros) = 12.35772358 12.35772358 / 1.62 (Y2 GBP) = 7.62822443 7.62822443 * 11.2 (Y2 HKD) = 85.43611362
2nd attempt
100 (Euros) * 1.52 (Y1 GBP) = 152 1.52 (Y1 GBP) / 1.62 (Y2 GBP) = 93.82716049 93.82716049 * 11.2 (Y2 HKD) = 1050.864198
3rd attempt
100 (Euros) / 1.52 (Y1 GBP) = 65.78947368 65.78947368 * 1.62 (Y2 GBP) = 106.57894747 106.57894747 * 11.2 (Y2 HKD) = 1193.684211 OR 106.57894747 / 11.2 (Y2 HKD) = 9.515977444
Thanks in advance for your valueable time in helping me.