Question

A family travels from Hongkong to Singapore for a holiday. They exchanged HK$35000 to Singapore dollars at an exchange rate of HK$100= S$ 16.235. They spent a total of S$3500 and converted the remaining into HK$ at the end of the trip at an exchange rate of HK$ 100=S$16.242. Find the amount of Hongkong dollars they receive, giving your answer correct to the nearest dollar.

Answer 1

The amount of Hongkong dollars they receive will be HK$13,436.

Explanation:

Hong Kong dollars exchanged by family in Singapore = HK$35,000

Exchange rate: HK$100= S$ 16.235

Singapore dollars received by family after the exchange :

`=(S\$ 16.235)/(HK\$100)* HK\$35,000=S\$5,682.25`

Total expenditure of the family in Singapore = S$3500

Remaining Singapore dollars = S$5,682.25 - S$3,500 = S$2,182.25

After the end of the trip, the family exchanged their remaining Singapore dollars with Hong Kong dollars at the exchange rate of:

HK$ 100=S$16.242

The amount of Hongkong dollars family received:

`=(HK\$ 100)/(S\$16.242)* S\$2,182.25=HK\$13,435.84 \approx HK\$13,436`

The amount of Hongkong dollars they receive will be HK$13,436.