Question

Carlo changed 800 euros into dollars for his holiday when the exchange rate was 1 euro is equal to 1.50 dollars. His holiday was then cancelled. He changed his all dollars back into euros and received 750 euros. Find the new exchange rate?

Answer 1

Answer:

new exchange rate: 1 € = 1.6$

Step-by-step explanation:

1 euro = 1.5 dollars

800 euro = 800×1.5 dollars

800 euro = 1200 dollars

he received 750 euros when exchange rate was x(let)

750 × x = 1200 dollars

x = 1200/ 750

x = 1.6

hence, new exchange rate = 1.6