Exchange rate calculation.
To find out the amount in Singapore dollars that Mr Li would need to give each of his five relatives 500 RMB each, we can follow these steps:
Calculate the total amount in RMB that Mr Li needs to give:
500 RMB/relative x 5 relatives = 2500 RMB
Convert the total amount in RMB to Singapore dollars using the given exchange rate:
2500 RMB x (S$100/RMB510.20) = S$490.64 (rounded to the nearest cent)
Therefore, Mr Li would need S$490.64 to give each of his five relatives 500 RMB each, given the exchange rate of S$100 to RMB510.20.
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