Question

Geoffery went on a trip across South America. He took 1,750 US dollars (USD) with him. In Chile, he traded his money for Chilean pesos (CLP) at a rate of USD:CLP = 1:496.5000. He spent 217,513 pesos before he went to Venezuela. In Venezuela, he traded his Chilean pesos for Venezuelan bolivars (VEF) at a rate of CLP:VEF = 1:0.1283. During his time in Venezuela, he spent 38,422.19 bolivars. At his next stop, Paraguay, he traded his Venezuelan bolivars for Paraguayan guarani (PYG) at a rate of VEF:PYG = 1:1063.9500. He spent 12,857,441.39 guarani before returning to the United States, where he traded his Paraguayan guarani for US dollars at a rate of PYG:USD = 1:0.00002186. How much money did Geoffery have remaining, in US dollars? Round all currency values to two decimal places.
a.
$1,353.13
b.
$768.98
c.
$662.60
d.
$281.06


Please select the best answer from the choices provided

A
B
C
D

Answer 1

Answer: B — $768.98

Work (rounding each currency to 2 decimals as requested):
- USD → CLP: 1,750 × 496.50 = 868,875.00 CLP
- After spending in Chile: 868,875.00 − 217,513.00 = 651,362.00 CLP
- CLP → VEF: 651,362.00 × 0.1283 = 83,569.74 VEF
- After spending in Venezuela: 83,569.74 − 38,422.19 = 45,147.55 VEF
- VEF → PYG: 45,147.55 × 1,063.95 = 48,034,735.82 PYG
- After spending in Paraguay: 48,034,735.82 − 12,857,441.39 = 35,177,294.43 PYG
- PYG → USD: 35,177,294.43 × 0.00002186 = 768.975656... → $768.98

Thus choice B.