Question

An American tourist visits South Africa with $3000. The exchange rate when she arrives is

$1 = 12.90. She changes all her dollars into rands and then spends R900 per day for seven
days. She changes the rands she has left back into dollars at a rate of $1 = R12.93. How much
does she get in dollars? show your working.​

Answer 1

9514 1404 393

Answer:

$2505.80

Explanation:

After the first exchange, the tourist has ...

$3000(12.90 R/$) = R38,700

After 7 days, she has ...

R38,700 -7(R900) = R32,400

After the second exchange, she has ...

R32,400 × ($1/R12.93) = $2505.80

She gets $2505.80 at the second exchange.