You plan on traveling to South Korea and China on a business trip. You will first stop

Question:

You plan on traveling to South Korea and China on a business trip. You will first stop in Korea, where the current direct exchange rate is $1: 1243.78SK Won. You will next stop in China, where the current direct exchange rate is $1: Yuan 6.83013. As you leave South Korea, you have 825,000 Won and need to convert it to Yuan. What is the cross-rate for Yuan, and how many Yuan do you get for your won? Verify by converting won back to dollars and then dollars to Yuan.

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...