Question

The buying rate and selling rate of a Australian dollar in a bank are rs 80.20and rs 81.40respectively how much Australian dollar should be bought and sold by the bank to get rs 6000 profit

Answer 1

Answer:

5000 Australian Dollars

Step-by-step explanation:

To find out how many Australian dollars need to be sold, we first need to find the profit of a single dollar sold.

We will be using the formula for profit, which is:

Profit = Total Revenue - Total Cost

Now we define the available variables.

Total Revenue = 81.40

Total Cost = 80.20

Profit = 81.40 - 80.20

Profit = rs 1.20/dollar

Now we have to find how many dollars we have to sell to get a profit of rs 6000.

We simply divide the amount of profit that we want to the price per dollar.

Total Profit = 6000

Profit per dollar = 1.20

This give us:

6000 / 1.20 = 5000 Australian Dollars.