President obama announced a $100,000,000 humanitarian aid package to haiti to support its earthquake relief. england's parliament wants to contribute 20% of this amount. if the exchange rate is $1.61371/pound sterling, what is the amount the parliament is likely to allocate?

The parliament is likely to allocate £ 1,23,93,800.62

We arrive at the answer as follows:

Amount allocated by President Obama    $100,000,000

Amount England wants to contribute        20% of President Obama's allocation

Amount England wants to contribute in USD  =

Exchange Rate                                      $1. 61371/1 pound sterling

We can read the problem as if $1.61371 is equal to 1 pound sterling, how many pound sterlings are equal to $2,00,00,000?

Let number of pound sterlings be x

So,

it should be

answer; rapid growth in buyer demand and high buyer switching cost;