As per Quantity Equation, MV = PY
M = PY / V
Where P = 3
Y = 3,000
V = 4
Therefore
M = 3 * 3,000 / 4 = $2,250
Therefore Correct Answer is (A) $2,250.
The quantity equation is represented as MV = PT and relates the charge tiers and the amount and availability of cash. right here M stands for the quantity of money, V is the velocity of circulation, P is the fee stage and T stands for the number of transactions.
The equation of trade is a mathematical expression of the quantity idea of cash. In its fundamental form, the equation says that the full sum of money that changes palms in an economic system equals the whole money price of goods that change hands, or that nominal spending equals nominal profits.
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