Question

The exchange rate of a Chinese RMB to a US dollar is 1 RMB to 0.15 US dollar. How many RMB Can an individual purchase if he or she has 250.00 US dollars ? Round your answer to the nearest second decimal place.

Please show work!

Answer 1

To find out how many RMB an individual can purchase with 250.00 US dollars, use the exchange rate of 1 RMB to 0.15 US dollars and set up a proportion to solve for the unknown number of RMB.

Step-by-step explanation:

To find out how many RMB an individual can purchase with 250.00 US dollars, we need to use the exchange rate of 1 RMB to 0.15 US dollars. We can set up a proportion to solve for the unknown number of RMB. The proportion is: 1 RMB / 0.15 US dollar = x RMB / 250 US dollars. Cross-multiplying and solving for x, we get x ≈ 1666.67 RMB.