Question

ethan had planned to visit his local post office on saturday to exchange £400 for euros. the exchange rate for that day was £1=1.25€ however due to unforeseen circumstances ethan arrived at the post office after it closed on that day he therefore had to wait until the following monday to exchange his £400 to euro’s. the exchange rate on monday was £1=€1.20 how many fewer euros did he receive due to this delay?

Answer 1

Answer:

20 fewer Euros.

Step-by-step explanation:

He has 400 pounds. He wants to change this to Euros.

Condition on Friday

1 pound = 1.25 Euros

400 pounds= x Euros

Set up a proportion

1/400 = 1.25/x               Cross multiply

x = 400 * 1.25               Combine like factors.

x = 500 Euros

Condition on Monday

1 pound = 1.20 Euros.

400 pounds = x                

1/400 = 1.20 / x                           Cross multiply

x = 1.20 * 400

x = 480 Euros

Difference between Friday and Monday

Difference between Friday and Monday = 500 - 480 = 20

He lost 20 Euros in the exchange.