Question

The currency in Oman is the Rial. The exchange rate is approximately $3 to 1 Rial. At this rate, how many dollars would you get if you exchanged 14 Rials? Round to the nearest dollar, if needed. a) $4 b) $12 c) $42 d) $56

Answer 1

If you exchanged 14 Rials at the exchange rate of $3 to 1 Rial, you would get approximately $42. Therefore, the correct answer is (c) $42.

Step-by-step explanation:

To calculate the amount in dollars obtained by exchanging 14 Rials, you can use the given exchange rate of $3 to 1 Rial. Simply multiply the number of Rials by the exchange rate:

`\[ 14 \, \text{Rials} * \frac{\$3}{1 \, \text{Rial}} = \$42 \]`

This calculation reflects the direct conversion of Rials to dollars at the specified exchange rate. Therefore, you would get approximately $42 when exchanging 14 Rials.

Understanding exchange rates is crucial when dealing with international currencies, as it helps individuals and businesses assess the value of one currency in terms of another. In this case, the exchange rate of $3 to 1 Rial indicates that one Rial is equivalent to $3. By applying this rate, you can determine the corresponding value in dollars for a given amount in Rials.

In conclusion, exchanging 14 Rials at the given rate would result in obtaining $42. This type of currency conversion is a common aspect of international trade, travel, and financial transactions, and knowing how to calculate it is beneficial for accurate financial planning and decision-making.