Question

John changes some money to euros.

The exchange rate is £1 = 1.16 euros.

When in Amsterdam, John uses his credit card to pay for a ring costing 850 euros.

He has to pay a bank charge of £3.50 for using his credit card in addition to the cost of the ring.

Work out the total cost, in pounds (£), of the ring and the bank charge.

Answer 1

`\Huge \boxed{\boxed{\text{\£736.26}}}`

Explanation:

To calculate the total cost in pounds (£) of the ring and the bank charge, we will follow these steps:

1. Convert the cost of the ring from euros to pounds.
2. Add the bank charge to the cost of the ring in pounds.

Step 1: Convert the cost of the ring from euros to pounds

The cost of the ring is 850 euros, and the exchange rate is £1 = 1.16 euros. To convert the cost of the ring to pounds, we will divide the cost in euros by the exchange rate:

`\boxed{\begin{minipage}{7 cm}\large\text{Cost in pounds = $\frac{\text{cost in euros}}{\text{exchange rate}}$}\\ \\\text{Cost in pounds = $\frac{\text{850 euros}}{\text{1.16 euros per pound}}$}\\ \\\text{Cost in pounds $\approx$ 732.76}\end{minipage}}`

So, the cost of the ring in pounds is approximately £732.76.

Step 2: Add the bank charge to the cost of the ring in pounds

Now, we need to add the bank charge of £3.50 to the cost of the ring in pounds:

`\boxed{\begin{minipage}{10 cm}\large \text {Total cost = cost of the ring in pounds + bank charge}\\\\\text {Total cost = \£732.76 + \£3.50}\\\\\text {Total cost = \£736.26}\end{minipage}}`

The total cost of the ring and the bank charge is £736.26.

In summary, John will have to pay a total of £736.26 for the ring and the bank charge.

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