Question

A foreign country uses the stellar as its currency. Before a trip to that​ country, Jon wants to exchange ​$1,200 to stellars. Which of Bank A and Bank B has the better exchange​ rate? How many more stellars would he get if he exchanged his ​$1,200 at the better exchange rate instead of at the other​ rate?

Answer 1

See Explanation

Explanation:

The question is incomplete as the conversion rate for both banks is not given.

However, I'll make the following assumptions.

Bank A: $80 for 392 stellars

Bank B: $50 for 240 stellars

Solving (a) Bank with better conversion rate.

First, we need to calculate the unit rate.

Unit Rate = Dollar/Stellar

For Bank A:

Unit Rate = 392/80

Unit Rate = 4.9 Stellars to $1

For Bank B:

Unit Rate = 240/50

Unit Rate = 4.8 Stellars to $1

The bank with higher unit rate has a better exchange rate.

Hence, bank A has a better exchange rate.

Solving (b): How much more will he get if $1200 is exchanged

For Bank A:

$1 = 4.9 Stellars

Multiply both sides by 1200

$1 * 1200 = 4.9 * 1200 Stellars

$1200 = 5880 Stellars

For Bank B:

$1 = 4.8 Stellars

Multiply both sides by 1200

1200 * $1 = 4.8 * 1200 Stellars

$1200 = 5760 Stellars

Calculate their difference

Difference = 5880 - 5760

Difference = 120 Stellars

Hence, he'll get 120 more Stellars if he exchanged with bank A.