An American executive is going on a business trip to Japan and England. Before she departs, she purchases $10,000 worth of Japanese yen at the prevailing rate of ¥82.54/$. After finishing her business in Japan, she departs for London where she converts the remaining yen to British pounds. She sells ¥512,375 at a rate of ¥132.03/£. She finally returns to the United States with £567.35, which she would like to convert to U. S. dollars. Based only on the rates given, how many dollars will she receive if she sells the pounds?

Question

Joslyn

Business

13 October, 19:45

An American executive is going on a business trip to Japan and England. Before she departs, she purchases $10,000 worth of Japanese yen at the prevailing rate of ¥82.54/$. After finishing her business in Japan, she departs for London where she converts the remaining yen to British pounds. She sells ¥512,375 at a rate of ¥132.03/£. She finally returns to the United States with £567.35, which she would like to convert to U. S. dollars. Based only on the rates given, how many dollars will she receive if she sells the pounds?

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Answers (1)

Know the Answer?

Sunny · Answer 1

The correct answer is $907.76.

Explanation:

According to the scenario, computation of the given data are as follow:-

1¥ = 82.54$

1£ = 132.03¥

Convert pounds to us dollars = £ : $ = £132.03 : $82.54

= 1.60$ : £

Mean, 1£ = 1.6$

She has £567.35.

After converting the pound into the dollar, she will receive = £567.35 * $1.60

= $907.76

Hence, she receive $907.76 if she sells the pounds.