It is given that "1 British pound could be exchanged for $2.75", thus:

$$ 1\ British\ pound=2.75\ USD $$

So it follows that 2 British pounds could be exchanged for:

$$ =>2\ British\ pounds=2.75\ USD \times 2=5.50\ USD $$

It is also given that "1 Canadian dollar could be exchanged for $0.92", thus:

$$ 1\ Canadian\ dollar=0.92\ USD $$

It follows that 1 USD can be exchanged for:

$$ 1 \ USD=\frac{1}{0.92} \ Canadian\ dollar $$

Therefore, 2 British pounds could be exchanged for:

$$ 2\ British\ pounds=5.50\ USD=5.5 \times \frac{1}{0.92} \ \ Canadian\ dollar\approx 5.98\ \ Canadian\ dollar $$