Question

Amber is an American teaching English in China, and she currently has 35,000 yuan in her bank account. If the exchange rate changes from 1 U.S. dollar - 6.83 Chinese yuan to 1 U.S. dollar 6.96 Chinese yuan, what happens to the value in U.S. dollars of the money in Amber's bank account?

Answer 1

35000 yuan / (6.83 yuan/dollars)= 5124.45 dollars

Answer 2

Answer: $5124.45

Explanation:

Given : The exchange rate changes from 1 U.S. dollar is given by :-

`\text{6.83 Chinese yuan = 1 U.S. dollar}`

Applying unitary method , we have

`\text{1 yuan}=(1)/(6.83)\text{US dollars}`

i.e.
`\text{35,000 yuan}=35000*(1)/(6.83)\text{US dollars}`

`\Rightarrow\text{35,000 yuan}=5124.450951\approx5124.45\text{ US dollars}`

Hence, the value in U.S. dollars of the money in Amber's bank account = $5124.45