Asked by Rishi Gowda on Jul 04, 2024
Verified
The price of a 40-ounce bottle of rum at a U.S. border duty-free store was US$19.95. At the same time, the price of a 750-mL bottle of similar quality rum in an Ontario liquor store was C$22.95. Using the Ontario price as the base, what is the percent saving (on the unit price) by buying rum at the duty-free store? (1 litre = 35.2 fluid ounces)
Percent Saving
The percentage of the original price saved as a result of a discount or offer.
U.S. Border
The geographical boundary separating the United States from neighboring countries.
Duty-Free
Goods that are exempt from payment of certain local or national taxes and duties, typically sold at airports and international borders.
- Assess and compare the cost of goods in different currencies based on current exchange rates.
Verified Answer
KP
Learning Objectives
- Assess and compare the cost of goods in different currencies based on current exchange rates.