Ethan had planned to visit his local post office to change 400 pound into euros exchange rate was £1 to 1.25 euros however the p ost office was closed so went on monday the exchange rate was £1 to 1.20 euros how many fewer euros did he recieve due to the delay? What percentage loss was caused by this delay?
2 answers:
Answer:
$20 and 4%
Step-by-step explanation:
Firstly, we are to calculate the amount of euro in dollars. The amount he is supposed to exchange to initially is; 400 * 1.25 = $500
Now he changed for 400 * 1.2 =480
The amount of dollars he received fewer will be 500-480 = $20
We now also calculate the % loss.
That would be 20/500 *100 = 4%
Answer:
4%
Step-by-step explanation:
Firstly, we are to calculate the amount of euro in dollars. The amount he is supposed to exchange to initially is; 400 * 1.25 = $500
Now he changed for 400 * 1.2 =480
The amount of dollars he received fewer will be 500-480 = $20
We now also calculate the % loss.
That would be 20/500 *100 = 4%
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