Question

The country of Ambos Republic defined its currency, ambos, as being equivalent to 16 grains of "fine" (pure) gold. Assuming that there are 480 grains in an ounce, the gold par value of the ambos is

a.) 30

b.) 22

c.) 14

d.) 28

e.) 20

Answer 1

Answer:

A. 30

Explanation:

Given that

16 grains of fine gold = 1 ambos

480 grains in ounce

Recall that par value = face value.

Therefore

Gold par value of 480 grains of ambos

= 480 ÷ 16

= 30