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.

Question

Work out how much, in dollars, Anil receives.

Answer 1

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.