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.

Expert Answers
pohnpei397 eNotes educator| Certified Educator

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.

bullgatortail eNotes educator| Certified Educator

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.

neela | Student

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.

parama9000 | Student

The book is wrong, your calculations are correct.