Question

While traveling to Europe, Phelan exchanged 250 US dollars for euros. He spent 150 euros on his trip. After returning to the United States he converts his money back to US dollars. How much of the original 250 US dollars does Phelan now have?

Answer 1

Phelan have 80.5 US dollars.

Explanation:

The current exchange rate is

`1 \text{ Euro }=1.13 \text{ US dollars}`

Let as assume that this exchange rate remains constant.

In initial stage Phelan has 250 US.

He spent 150 euros, it means he spent

`150* 1.13=169.5\text{ US dollars}`

The remaining amount in US dollars is

`250-169.5=80.5`

Therefore, Phelan have 80.5 US dollars.

Answer 2

Since the exchange rate of euro to USD right now is 1:1.11, therefore he spent 150x1.11=166.5 USD. Therefore, he has 250-166.5=83.5 USD left(assuming the exchange rate is the same, 1.17).