$1,000 dollars to Mexican pesos at 11% is $11,000 pesos?
No.
Maybe you mean at 11pesos to the dollar. Or, $1 = 11pesos.
So the rate of change is $1 = 11pesos.
For you to use that in your conversions from $ to pesos, or from pesos
to $, we transform it into a conversion factor (that is only another
name for "rate", so don't worry):
($1/11pesos) or (11pesos/$1).
Why two conversion factors? Zeez, yeah, they look two, but in reality
they are only one, or they are the same. And there is a reason why they
look two.
The idea is to use a version of the conversion factor such that its
denominator is the same in currency as the one you are trying to
convert.
If you want to convert $ to pesos, you multiply that by (11pesos/$1).
If you want to convert pesos to $, you that by ($1/11pesos).
So, say you want to know much is $1000 in pesos.
Just multiply that by (11pesos/$1).
$1000*(11pesos/$1)
The $ sign cancels out,
= 1000*11pesos
= 11,000 pesos.
How about what is 11,000 pesos in dollars?
Why, just multiply that by ($1/11pesos).
11,000pesos*($1/11pesos)
The "pesos" cancels out,
= 11,000*$1/11
= $1000.
In your example you multiplied the 11,000pesos by 0.090.
Why?
That is not correct, that is why you got $990 only.
---------------
Say you want to convert 330 pesos into $.
330pesos*($1/11pesos)
= 330*$1/11
= $30
545 pesos?
545pesos *($1/11pesos)
= $545/11
= $49.55
etc...
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