Question

A family travels from Hongkong to Singapore for a holiday. They exchanged HK$35000 to Singapore dollars at an exchange rate of HK$100= S$ 16.235. They spent a total of S$3500 and converted the remaining into HK$ at the end of the trip at an exchange rate of HK$ 100=S$16.242. Find the amount of Hongkong dollars they receive, giving your answer correct to the nearest dollar.

Answer 1

Step-by-step explanation:

HK$ 3500

Rate of Exchange:

100HK$ = 16.235 S$

1HK $ = 16.235/100 S$

1HK $ = 16235/100000 S$

1HK $ = 0.16235 S$

Therefore, 35000 HK$ = 0.16235* 35000

= 5682.25 S$

Total Spent = 3500S$

Money left = 5682.25 - 3500

= 2182.250 S$

After trip, Rate of exchange:

HK$ 100 = 16.242 S$

HK$ 1 = 16.242/100

= 16242/100000

= 0.162420 S$

Therefore, 2182.250S$ = 2182.250* 0.162420

=354.441