1. **Problem statement:** We are given two exchange rates: - 1 euro = 1.08 dollars - 1 pound (£) = 1.22 dollars We want to find how many euros are equivalent to £1 using these rates. 2. **Formula and approach:** To find how many euros equal £1, we use the fact that both euros and pounds are converted to dollars. We can write: $$\text{£1 in euros} = \frac{\text{£1 in dollars}}{\text{euros in dollars}}$$ Since £1 = 1.22 dollars and 1 euro = 1.08 dollars, then: $$\text{£1 in euros} = \frac{1.22}{1.08}$$ 3. **Calculation:** Calculate the division: $$\frac{1.22}{1.08} \approx 1.1296$$ 4. **Interpretation:** This means £1 is worth approximately 1.13 euros. **Final answer:** **£1 is worth 1.13 euros.**