Question

A man bought 250 electric lanterns in the united States of America for $5000. he sold them them in lagos at 1,920 naira each. at the time of his journey back to USA, the exchange rate was #96 to dollar

1. if selling at the lanterns at 1920 naira each, he made a profit of 20% cal the exchange rate the time he bought the lantern
2. how much in dollar will the sales amount to the of his journey back to USA ​

Answer 1

1. $1:#80

2.$5000

Explanation:

ok... lots of moving parts here ....

$5000 / 250 = $20 per lantern.

~~~~~~~~~~~~~~~~~~

x (1 + .2) = 1920

x = 1600

~~~~~~~~~~~~~~

$5000 : (1600*250)

$5,000:#400,000

c

~~~~~~~~~~~

sales back to the us at $1:#96

1920*250 = 480000

#480000/#96=$5000

Answer 2

Answer: 4166.67$

Explanation:

1920 x 250 = amount

Amount = 120%

Cost price = 100%

1920 x 250= 120%

Cost price = 100%

Cross multiply and divide both side by 120

1920 x 250 x 100/120 = price

Exchange rate = cost in #/cost in $

= (1920 x 250 x 5/6)/(5000)

= (96 x 5/6) = 16 x 5= 80

Exchange rate then was 80 to 1$

The sales will be 400000/96 = 4166.67$