Merl is a canadian exchange student in China, and he currently has 12,000 yuan in his bank account. If the exchange rate changes from 1 Canadian dollar = 6.64 Chinese yuan to 1 canadian dollar = 6.78 chinese yuan, what happens to the value in canadian dollars of the money in Merl's bank account???
A. it decreases by $37.32.
B. It increases by $1680.00
C. It increases by $37.32
D. it decreases by $1680.00
A. it decreases by $37.32.
B. It increases by $1680.00
C. It increases by $37.32
D. it decreases by $1680.00
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(12000 / 6.64) - (12000/6.78) = 37.32
it decreases by 37.32
it decreases by 37.32
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A)
Merl has 12000y, since $1 buys 6.64y, for every 6.64y he has, he will get $1. You can find out how many "lots" of 6.64y he has by 12000/6.64, which gives 1807.22 ($).
After the change occurs, $1 buys 6.78y, so we need to find out how many "lots" of 2.78 Merl has, which can be calculated by 12000/6.78, which gives 1769.91 ($)
To find the difference, subtract the earlier from the later, i.e. 1769.91 - 1807.23= -37.32
Merl has 12000y, since $1 buys 6.64y, for every 6.64y he has, he will get $1. You can find out how many "lots" of 6.64y he has by 12000/6.64, which gives 1807.22 ($).
After the change occurs, $1 buys 6.78y, so we need to find out how many "lots" of 2.78 Merl has, which can be calculated by 12000/6.78, which gives 1769.91 ($)
To find the difference, subtract the earlier from the later, i.e. 1769.91 - 1807.23= -37.32
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When
1 CD = 6.64 Yuan
x CD = 12 000 Yuan
x/1 = 12 000 /6.64
x = $ 1807.22
When
1 CD = 6.78 Yuan
x CD = 12 000 Yuan
x/1 = 12 000 /6.78
x = $ 1769.91
Find the difference between the two values. 1807.22- 1769.22 = 37.3 = A
Hope this helps!!
1 CD = 6.64 Yuan
x CD = 12 000 Yuan
x/1 = 12 000 /6.64
x = $ 1807.22
When
1 CD = 6.78 Yuan
x CD = 12 000 Yuan
x/1 = 12 000 /6.78
x = $ 1769.91
Find the difference between the two values. 1807.22- 1769.22 = 37.3 = A
Hope this helps!!
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A