On july 1,2005 there were 8.2765 chinese yuan per $1 and 1.1957 euros per $1. On the same day, how many euros were equal to 1 yuan?

I think the answer is 9.8962euros
IF MY ANSWER IS WRONG PLEASE GIVE AN PROPORTION TO START OFF

You're right.

THANK YOU

You're welcome.

To determine how many euros were equal to 1 yuan on July 1, 2005, we can set up a proportion using the exchange rates given.

The proportion can be set up as follows:

1 yuan / x euros = 8.2765 yuan / 1 dollar * 1.1957 euros / 1 dollar

Now, let's solve for x:

x = (1 yuan * 1.1957 euros) / 8.2765 yuan

Calculating this expression gives us:

x ≈ 0.1441 euros

So, on July 1, 2005, approximately 0.1441 euros were equal to 1 yuan, not 9.8962 euros as you initially suggested.