550 GBP x 1.18 Euro = 649 Euro
649 - 629 = 20 Euro
1GBP x 20 Euro / 1.18 Euro = 16.94 Euro
Minni travels to Italy. She changes 550 GBP to euros at an exchange rate of 1 GBP = 1.18 euros. The bank charges commission and then gives Minni 629 euros. Find the amout of the commission in GBP.
Thank you so much:))
2 answers
Correct number, wrong units.
To find the commission in GBP, use the exchange rate to convert the Euros which she received to GBP and subtract that from the amount of GBP she changed.
= £550 - €629/(1.18 €/£)
= £16.95
To find the commission in GBP, use the exchange rate to convert the Euros which she received to GBP and subtract that from the amount of GBP she changed.
= £550 - €629/(1.18 €/£)
= £16.95