An American tourist used a two dollar American bill to purchase a coffee and a donut at a Canadian Tim Hortons store. If the Canadian price of the coffee was $1.41 and the donut was priced at $0.94. How much Canadian change did the American tourist receive?  Use the exchange rate: $1.00 USD =  $1.382 CAD. Ignore any P.S.T or G.S.T. implications Round your final answer properly to two decimal places. Note:  The currency conversion is hypothetical and not current.  For up to date conversion, go to http://www.xe.com

Expert Answers

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First, you need to convert the two dollars American bill into Canadian dollars, such that:

`$ 2 USD * $ 1.382 CAD = $ 2.764 CAD`

The problem provides the information that the tourist has purchased a coffee and a donut and he has paid for them $1.41 CAD for coffee and  $0.94 CAD for donut.

You need to add the prices he has paid for a coffee and a donut, such that:

`$1.41 + $0.94 = $ 2.35 CAD`

You need to subtract the total price of $ 2.35 CAD from the equivalent Canadian amount of the two American dollars bill, such that:

`$ 2.764 CAD - $ 2.35 CAD = $ 0.41 CAD`

Hence, evaluating the Canadian change the tourist received yields $ 0.41 CAD.

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