Question

Brian wants to exchange South African rands for British pound if one is were 30 commerce 07519 9 lb how many pounds will he get for 2100 if he must pay an agency commission of 1.5%​

Answer 1

We can approach this problem using the following steps:

Calculate the exchange rate after factoring in the agency commission. Since the agency commission is 1.5%, the effective exchange rate will be:

Effective exchange rate = Exchange rate - (Exchange rate * Commission rate)

= 30.075199 - (30.075199 * 0.015)

= 29.6185968

Multiply the amount of South African rands by the effective exchange rate to get the amount in British pounds.

Amount in pounds = Amount in rands / Exchange rate

So, for an amount of 2100 South African rands, the calculation would be:

Amount in pounds = 2100 / 29.6185968

= 70.815 pounds (rounded to three decimal places)

Therefore, Brian will get 70.815 pounds for 2100 South African rands after factoring in the agency commission.