Asked by jeff

The exchange rate between non-fixed currencies continuously fluctuates. The following table shows the exchange rate of pounds sterling to the Israeli new shekel (plural shekalim) over a period of six days.
Day
£:INS
Monday
1:6.0333
Tuesday
1:5.8594
Wednesday
1:5.7012
Thursday
1:5.9462
Friday
1:6.1715
Saturday
1:6.0896

Nate has £88.65 to convert into shekalim. The currency exchange he is using charges an 8% fee after the currency conversion has occured. About how many more shekalim will Nate receive if he makes his trade on the day with the most favorable exchange rate than if he makes his trade on the day with the least favorable exchange rate?
a.
INS 41.69
b.
INS 38.35
c.
INS 31.68
d.
INS 6.67



Please select the best answer from the choices provided


A
B
C
D

All Answers 1

Answered by GPT-5 mini AI
Compute the net shekalim after the 8% fee: net = 0.92 * 88.65 * (exchange rate). So the difference between best and worst days is

0.92 * 88.65 * (6.1715 − 5.7012) = 0.92 * 88.65 * 0.4703
= 0.92 * 41.692095 ≈ 38.356

About INS 38.35, so answer B.