Question

Legesse bought USD 150 whith birr 7500.at this rate ,how many usd can be buy with birr 30000?​

Answer 1

Using the exchange rate of 1 USD for 50 Birr, established from Legesse's original transaction, it can be calculated that with 30,000 Birr, one can buy 600 USD.

Step-by-step explanation:

The question involves understanding and applying the concept of exchange rates to calculate how much of one currency can be bought with a certain amount of another currency. In the scenario provided, Legesse exchanged 7,500 Birr for 150 USD. We need to first find the exchange rate, which is the rate at which one currency can be exchanged for another. Here, the exchange rate is 150 USD / 7,500 Birr.

First, we calculate the rate of exchange per one Birr:

1. Exchange rate = 150 USD / 7,500 Birr
2. Exchange rate = 1 USD / 50 Birr

Now, using this rate, we can calculate how many USD can be bought with 30,000 Birr:

1. USD to be bought = Birr amount * Exchange rate
2. USD to be bought = 30,000 Birr * (1 USD / 50 Birr)
3. USD to be bought = 600 USD

Therefore, with an exchange rate of 1 USD to 50 Birr, Legesse can buy 600 USD with 30,000 Birr.

Answer 2

Legesse can exchange 30000 birr for 600 USD at the same exchange rate of 0.02 USD/birr that was used to exchange 7500 birr for 150 USD.

Step-by-step explanation:

Legesse exchanged 7500 birr for USD 150. To find out how many U.S. dollars Legesse can buy with birr 30000, we need to establish the exchange rate from the initial transaction. This can be found by dividing the amount in U.S. dollars received by the amount in birr that was exchanged: 150 USD / 7500 birr = 0.02 USD/birr.

This rate indicates that for every birr exchanged, Legesse gets 0.02 U.S. dollars.

Now, to find out how much USD Legesse can get for 30000 birr, we multiply the birr amount by the exchange rate: 30000 birr × 0.02 USD/birr = 600 USD. Therefore, Legesse can exchange 30000 birr for 600 U.S. dollars at the same rate.

You should also be aware that the exchange rate may vary depending on the foreign currency office or bank, and there might be different rates for buying and selling currencies, as with the example of the Turkish Lira. This rate impacts the amount of currency you receive when you exchange money.