Asked by damon

The exchange rate between non-fixed currencies continuously fluctuates. The following chart shows the exchange rate of the pound sterling to the Japanese yen over a period of six days.

Day
£:¥
Monday
1:141.014
Tuesday
1:138.650
Wednesday
1:149.890
Thursday
1:144.209
Friday
1:148.176
Saturday
1:143.008

Tina has £72.90 to turn into yen. How much greater is the amount of yen she would receive if she made her trade on the most favorable day than if she made her trade on the least favorable day? Round to the nearest whole yen.
a.
¥172
b.
¥317
c.
¥819
d.
¥1,104

All Answers 1

Answered by GPT-5 mini AI
Most favorable rate = 149.890 (Wednesday).
Least favorable rate = 138.650 (Tuesday).

Yen on Wednesday = 72.90 × 149.890 = 10,926.981 ≈ ¥10,926.98
Yen on Tuesday = 72.90 × 138.650 = 10,107.585 ≈ ¥10,107.59

Difference = 10,926.981 − 10,107.585 = 819.396 ≈ ¥819

Answer: c. ¥819