Let the price of 1 pound of rice be Rs x $
10 pound of rice cost rupees 6 $
1 pound of rice cost rupees’ x $
x = (6*1)/ 10 = 3/5 = 0.60.
So the cost per pound of rice is 0.60 $.
Pound can be defined as a mass that is used in imperial and another system of measurement. There is a different definition that is being used in common days in the international system of a pound. It mainly stands out to be 0.45 kg which is being divided into 16 ounces. The international standard for ounces’ pound is considered to be lb. Another symbol that can be used is lbm. There has been unqualified pound that reflects on the overall history of mass and weight. This mainly accounts for pound-mass and pound forces.
Most of the countries inclusive of the commonwealth of nation has completely agreed upon the definition of two units that is pound and yard. In the year 1959, the symbol lb has been completely defined as 0.45 kg. In the United Kingdom, usage of the international pound has been implemented under the weights and measurement ACT 1963. Both the unit that is yard and metre is considered to be a unit of measurement for both length and pound. While kilogram is considered to be a unit of measurement for mass by reference for any kind of measurement of length and mass. One pound is considered to be equivalent to 16 ounces and which is again equal to 7,000 grains. Conversion factor in between kilogram and international pound is chosen so that it can be divisible by 7. The international unit is considered to be of equal value that is 64.80 mg. In the UK, the method of European Units and metrication are considered to be eliminated by the usage of pound and ounce. In the year 2007, the European commission has removed the metric that is labelling of packaged goods. This particular aspect has allowed dual metric for imperial marking which is indefinite in nature. The US has not adopted the metric system considered the various efforts given for it. The United States is to be the only country that makes use of pound as the key unit.
In Britain, there has been a different definition of the pound which has been historically used in Britain. There are many that have become obsolete that is merchant and London pound. The weight of the precious metal tends to be used for Troy pound and ounces. It is mainly quoted just in ounces which is not explicitly stated and troy system is assumed. In United Kingdom, both weights and measurement are completely defined by a series of Acts in Parliament. The complete intention has been there for regulating the sale of commodities. There are many materials that are traded in the marketplace which are quantified and accepted as per the standard and unit so that they can avoid any kind of fraud.
The standard has been legally defined so that they can facilitate any kind resolution for disputes that are brought to courts. Only legal measures will be taken account by courts followed by courts. Various quantifying devices are being used by a trader that are subjected to official inspection along with any kind of penalties that are being in case of fraudulent. Weight and Measure Act of 1878 is considered to be a major kind of overhaul for the British system for weight and measures. The definition of pound provided that there tend to be in force till the year 1960. Act of 1878 stated that contracts are completely worded with respect to metric units that are completely deemed by the court. It is completely made as per the imperial units which are completely defined in the Act. A table of the equivalent metric was supplied for a metric equivalent that needs to be legally calculated. UK law defined metrics with respect to imperial ones. One pound is considered to be equivalent to 0.45 kg.
In most of the country around the globe, the metric system has been introduced and pound tends to become an informal term that comes up with a value of 500 grams. Dollar does not come up from the same linguistic origination. In Chinese, it is almost equal to 500 grams that are divided into 10 liang. Around hundreds of people are completely replaced in a much similar way. The older pounds are the one which is bound to be 459 to 460 grams in various countries. The use of pound is considered to be an informal term that persists in the given countries for change in degree, scale and measuring devices. It is mainly denominated in two given units that are grams and kilograms. The pound is completely analysed by weighing product that is grams. The use of pounds is completely sanctioned for any trade-in the Europe Union.
The dollar is the name of the more than 20 currencies in various countries like Taiwan, New Zealand and Hong Kong. Earlier to 1873, the silver dollar has circulated in most of the section of the world that has a value related to the British gold. So, as a result, the decision of the German Empire has to stop minting for silver coins in the year 1871. Dollar has been adopted by various countries for currencies that do not share any history with other dollars. Most of the currencies are adopted for the name which is based on a decimalized monetary system. One dollar is completely divided into 100 cents. U.S coinage Act has put United States into ‘de facto’ standard of gold. Canada and Newfoundland have already come up with gold standard and value of dollar in North America has increased in relation to silver which is being used elsewhere. By the year 1900, the overall value of silver dollar has decreased to value of 50 percent for gold dollars. The abandonment of the standard of gold by Canada has been seen in the year 1931.
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