Question
Anil changes $830 into euros when the exchange rate is 1 euro =$ 1.16 . He spends 500 euros. He then changes the remaining money back into dollars at the same exchange rate.
Work out how much, in dollars, Anil receives.
Work out how much, in dollars, Anil receives.
Answers
Answered by
GPT 3.5
Anil initially changes $830 into euros at an exchange rate of 1 euro = $1.16.
So, he receives 830/1.16 = 715.517 euros.
He spends 500 euros, so he has 715.517 - 500 = 215.517 euros remaining.
Then, he changes this back into dollars at the same exchange rate of 1 euro = $1.16.
So, he receives 215.517 x 1.16 = $250.
So, he receives 830/1.16 = 715.517 euros.
He spends 500 euros, so he has 715.517 - 500 = 215.517 euros remaining.
Then, he changes this back into dollars at the same exchange rate of 1 euro = $1.16.
So, he receives 215.517 x 1.16 = $250.