An Irish gentleman on holiday in Germany finds that his wallet contains $700. If he changes the money at a bank how many euros will he receive?$1= 0.93 euros $1= 0.63 pounds I solved it like...
An Irish gentleman on holiday in Germany finds that his wallet contains $700. If he changes the money at a bank how many euros will he receive?
$1= 0.93 euros
$1= 0.63 pounds
I solved it like this: 700*0.93= 651 euros, but the book says the answer is 752.69 ! HOW?
shouldn't I supposed to convert dollars to euros not the opposite. Please Help me, you're help is really appreciated.
Are you sure that you have the problem stated correctly? Given the information you have provided, this can't be right. Think about it: if $1 is worth less than 1 euro, then any time you swap dollars for euros you get a lower number of euros than you had of dollars. By this logic, 752.69 can't possibly be right.
As an example of what I mean, the current rate is $1=.668 euros. And according to a currency exchange calculator online, $700 = 467.79 euros. So the number of euros has to be lower than the number of dollars.
Would you check the question -- perhaps you have something backward.
The 752.69 number is derived by doing 700/.93. But I don't see why you would do that given the information you've provided.
Unless you are devising a trick question, the Irish gent should receive 467.81 Euros, minus whatever the bank or converter may charge as a fee. The current value of the United States Dollar vs. the Euro as of October 15, 2009 is $1 to 0.6683 Euros. So, you would multiply 700 x .6683 for the answer. If you are planning to convert the money back from the Euro to Sterling (Pounds), he would have a total of 428.28 pounds. Again, these totals do not include any applicable bank fees. Hope this helps.
If $1=0.93 euros, then $700=700*0.93 euros=651 euros.
It is a ratio and proportion problem like $1:E0.93::$700: x
To find x, product of end terms = product of middle terms,So,
$1*x=$700* E0.93 or
x=($700)*(E0.93)/($1)= E 651
The book shows you a wrong conversion.
You did correctly.
The book is wrong, your calculations are correct.