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atroni [7]
2 years ago
10

5. Nathan wants to purchase electric drums from a music dealership in England. The drums cost £4000 and Nathan has saved R50 000

. The rand/pound exchange rate is R12,24 per one pound. Will he have enough money, in rands, to buy the drums? Show your reasoning.​
Mathematics
1 answer:
AfilCa [17]2 years ago
3 0

Nathan will have enough money, in rands, to buy the drums given his savings and cost of the drum in Rand.

<h3>Exchange rate</h3>

The exchange rate is the value of one currency in relation to another currency. It is the rate in which one currency will be exchanged for another. The rats of exchange is determined by foreign exchange market where currencies are traded.

  • Amount Nathan saved = R 50,000
  • Cost of drum = £4000

Convert pounds to Rand:

1 pound = 12.24 Rand

£400 = 12.24 × 4000

= 48,960 Rand

Amount Nathan saved - Cost of drum

= R 50,000 - R 48,960

= R 1,040

Therefore, Nathan will have enough money, in rands, to buy the drums.

Learn more about exchange rate:

brainly.com/question/2202418

#SPJ1

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