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The value of the euro was $1.30 last week. During last week the USD depreciated by 3 percent. What is the value of the euro today?

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Answer: Option (B) $ 1.34

Current Exchange Rate = $ 1.3/Euro

Given 1 EURO = $ 1.3

$ 1 = 1/13 Euro = 0.7692 Euro

During last week the USD depreciated by 3 percent

$ 1 = 0.7692 Euro * 0.97

$ 1 = 0.7462 Euro

1 Euro = $ 1/0.7462

1 Euro = $ 1.34

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