Currency Conversions. Use the currency exchange rates. 1.) Your dinner in London cost 82 British pounds. How much was it in U.S dollars? 2.) Your hotel rate in Tokyo is 45,000 yen per night. What is the nightly rate in U.S dollars? 3.) As you leave Paris, you covert 320 euros to dollars. How many dollars do you receive? 4.) You return from Mexico with 2500 pesos. How much are they worth in U.S dollars? 5.) Gasoline sells for 1.5 euros/ liters in Bonn. What is the price is U.S dollars per gallon? (1 gal = 3.785 L) 6.) You purchase fresh strawberries in Mexico for 28 pesos per kilograms. What is the price is U.S, dollars per pound? (1 kg = 2.205 lb)
The Correct Answer and Explanation is:
To answer the currency conversion questions, we need to use the appropriate exchange rates. The current rates are approximately:
- 1 British Pound (GBP) = 1.27 USD
- 1 Japanese Yen (JPY) = 0.0067 USD
- 1 Euro (EUR) = 1.09 USD
- 1 Mexican Peso (MXN) = 0.055 USD
Let’s break down each problem:
1) Your dinner in London cost 82 British pounds. How much was it in U.S. dollars?
To convert from GBP to USD:Amount in USD=82 GBP×1.27 USD/GBP\text{Amount in USD} = 82 \, \text{GBP} \times 1.27 \, \text{USD/GBP}Amount in USD=82GBP×1.27USD/GBPAmount in USD=104.14 USD\text{Amount in USD} = 104.14 \, \text{USD}Amount in USD=104.14USD
So, the dinner cost 104.14 USD.
2) Your hotel rate in Tokyo is 45,000 yen per night. What is the nightly rate in U.S. dollars?
To convert from JPY to USD:Amount in USD=45,000 JPY×0.0067 USD/JPY\text{Amount in USD} = 45,000 \, \text{JPY} \times 0.0067 \, \text{USD/JPY}Amount in USD=45,000JPY×0.0067USD/JPYAmount in USD=301.50 USD\text{Amount in USD} = 301.50 \, \text{USD}Amount in USD=301.50USD
So, the hotel rate is 301.50 USD per night.
3) As you leave Paris, you convert 320 euros to dollars. How many dollars do you receive?
To convert from EUR to USD:Amount in USD=320 EUR×1.09 USD/EUR\text{Amount in USD} = 320 \, \text{EUR} \times 1.09 \, \text{USD/EUR}Amount in USD=320EUR×1.09USD/EURAmount in USD=348.80 USD\text{Amount in USD} = 348.80 \, \text{USD}Amount in USD=348.80USD
So, you will receive 348.80 USD.
4) You return from Mexico with 2500 pesos. How much are they worth in U.S. dollars?
To convert from MXN to USD:Amount in USD=2500 MXN×0.055 USD/MXN\text{Amount in USD} = 2500 \, \text{MXN} \times 0.055 \, \text{USD/MXN}Amount in USD=2500MXN×0.055USD/MXNAmount in USD=137.50 USD\text{Amount in USD} = 137.50 \, \text{USD}Amount in USD=137.50USD
So, 2500 pesos are worth 137.50 USD.
5) Gasoline sells for 1.5 euros/liter in Bonn. What is the price in U.S. dollars per gallon? (1 gal = 3.785 L)
To convert from EUR to USD and then to gallons:Price in USD per liter=1.5 EUR×1.09 USD/EUR\text{Price in USD per liter} = 1.5 \, \text{EUR} \times 1.09 \, \text{USD/EUR}Price in USD per liter=1.5EUR×1.09USD/EURPrice in USD per liter=1.635 USD/liter\text{Price in USD per liter} = 1.635 \, \text{USD/liter}Price in USD per liter=1.635USD/liter
Now, convert from liters to gallons:Price in USD per gallon=1.635 USD/liter×3.785 L/gal\text{Price in USD per gallon} = 1.635 \, \text{USD/liter} \times 3.785 \, \text{L/gal}Price in USD per gallon=1.635USD/liter×3.785L/galPrice in USD per gallon=6.18 USD/gal\text{Price in USD per gallon} = 6.18 \, \text{USD/gal}Price in USD per gallon=6.18USD/gal
So, gasoline costs 6.18 USD per gallon.
6) You purchase fresh strawberries in Mexico for 28 pesos per kilogram. What is the price in U.S. dollars per pound? (1 kg = 2.205 lb)
To convert from MXN to USD and then to pounds:Price in USD per kg=28 MXN×0.055 USD/MXN\text{Price in USD per kg} = 28 \, \text{MXN} \times 0.055 \, \text{USD/MXN}Price in USD per kg=28MXN×0.055USD/MXNPrice in USD per kg=1.54 USD/kg\text{Price in USD per kg} = 1.54 \, \text{USD/kg}Price in USD per kg=1.54USD/kg
Now, convert from kilograms to pounds:Price in USD per pound=1.54 USD/kg2.205 lb/kg\text{Price in USD per pound} = \frac{1.54 \, \text{USD/kg}}{2.205 \, \text{lb/kg}}Price in USD per pound=2.205lb/kg1.54USD/kgPrice in USD per pound=0.70 USD/lb\text{Price in USD per pound} = 0.70 \, \text{USD/lb}Price in USD per pound=0.70USD/lb
So, strawberries cost 0.70 USD per pound.
Summary:
- Dinner in London: 104.14 USD
- Hotel in Tokyo: 301.50 USD
- Conversion from Paris: 348.80 USD
- 2500 pesos: 137.50 USD
- Gasoline in Bonn: 6.18 USD per gallon
- Fresh strawberries in Mexico: 0.70 USD per pound
These conversions are approximations based on the exchange rates provided.
