Bill and Gwyll are going on holiday to the USA
Bill changes £450 from his bank and gets $729
Gwyll changes £500 from another bank and gets $780
a) what exchange rate did Bill get from his bank?
b) what exchange rate did Gwyll get from his bank?
c) who got the better deal?
Answers
Bill changes £450 from his bank and gets $729 and Gwyll changes £500 from another bank and gets $780 then exchange rate for Bill is 1.62, exchange rate for Gwyll is 1.56 and thus Bill gets a better deal.
Step-by-step explanation:
Case (a): Exchange rate that Bill gets
Bill changes from his bank £450 and gets $729
∴ 1 £ is = $ [729/450] = $1.62
Thus, at Bill’s bank, the exchange rate is $1.62 for 1£.
Case (b): Exchange rate that Gwyll gets
Gwyll changes from his bank £500 and gets $780
∴ 1 £ is = $ [780/500] = $1.56
Thus, at Gwyll’s bank, the exchange rate is $1.56 for 1£.
Case (c):
From the above two cases, we can see that
Bill gets a better deal with an exchange rate of $1.62 for 1£.
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I’m as confused as u are :/
Step-by-step explanation: