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20 March, 23:36

A goldsmith has $2 million of gold in his vaults. He issues $5 million in gold receipts. His gold holdings are what fraction of the paper money (gold receipts) he has issued? LO33.1 a. 1/10. b. 1/5. c. 2/5. d. 5/5.

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  1. 20 March, 23:49
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    He has 2 million gold holding

    He has 5 million of paper money

    the fraction = gold holding/paper money

    = 2 million / 5 million

    = 2/5

    so the answer is C. 2/5
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