Question

A tourist exchanges US$200 for Jamaican currency at a rate of US$1 =$18.18. She has to pay a government tax of 2% on the amount exchanged. Calculate in Jamaican currency

i.) The tax paid
ii.) the amount the tourist recieved.

Answer 1

Tax Paid: $72.72 Amt Received: $3563.28

Explanation:

$200×$18.18= 3,636

3636×.02 (OR 2%)= 72.72

3636-72.72= 3563.28

Answer 2

I.) 2% of 200 is 4 so $4 in tax
I.) $3,563.28 Jamaican currency