Problem Overview:
The task involves converting currency amounts using the given exchange rates. The exchange rates provided are:
-
1 USD = 0.74 GBP
-
1 USD = 0.87 EUR
-
1 AUD = 82.01 JPY
-
1 AUD = 0.62 EUR
We need to convert the prices of items from one currency to another based on these rates.
---
Step-by-Step Solution:
####
Problem 1: Michael's Belt (Price in USD = $18.50)
a) Convert $18.50 to GBP:
- Exchange rate:
1 USD = 0.74 GBP
- Formula: \( \text{Amount in GBP} = \text{Amount in USD} \times \text{Exchange Rate (USD to GBP)} \)
- Calculation:
\[
18.50 \times 0.74 = 13.69
\]
-
Answer: £13.69
b) Convert $18.50 to EUR:
- Exchange rate:
1 USD = 0.87 EUR
- Formula: \( \text{Amount in EUR} = \text{Amount in USD} \times \text{Exchange Rate (USD to EUR)} \)
- Calculation:
\[
18.50 \times 0.87 = 16.10
\]
-
Answer: €16.10
---
####
Problem 2: Liam's Flip-Flops (Price in AUD = $16.00)
a) Convert $16.00 AUD to JPY:
- Exchange rate:
1 AUD = 82.01 JPY
- Formula: \( \text{Amount in JPY} = \text{Amount in AUD} \times \text{Exchange Rate (AUD to JPY)} \)
- Calculation:
\[
16.00 \times 82.01 = 1312.16
\]
-
Answer: ¥1312.16
b) Convert $16.00 AUD to EUR:
- Exchange rate:
1 AUD = 0.62 EUR
- Formula: \( \text{Amount in EUR} = \text{Amount in AUD} \times \text{Exchange Rate (AUD to EUR)} \)
- Calculation:
\[
16.00 \times 0.62 = 9.92
\]
-
Answer: €9.92
---
####
Problem 3: Charlotte's Scarf (Price in EUR = €10.75)
a) Convert €10.75 to AUD:
- Exchange rate:
1 AUD = 0.62 EUR (This implies
1 EUR = 1 / 0.62 AUD)
- Formula: \( \text{Amount in AUD} = \text{Amount in EUR} \div \text{Exchange Rate (AUD to EUR)} \)
- Calculation:
\[
10.75 \div 0.62 = 17.34
\]
-
Answer: $17.34 AUD
b) Convert €10.75 to USD:
- Exchange rate:
1 USD = 0.87 EUR (This implies
1 EUR = 1 / 0.87 USD)
- Formula: \( \text{Amount in USD} = \text{Amount in EUR} \div \text{Exchange Rate (USD to EUR)} \)
- Calculation:
\[
10.75 \div 0.87 = 12.36
\]
-
Answer: $12.36 USD
---
Final Answers:
1.
Michael's Belt:
- a) GBP:
£13.69
- b) EUR:
€16.10
2.
Liam's Flip-Flops:
- a) JPY:
¥1312.16
- b) EUR:
€9.92
3.
Charlotte's Scarf:
- a) AUD:
$17.34
- b) USD:
$12.36
---
Boxed Final Answer:
\[
\boxed{
\begin{array}{ll}
\text{1a) } £13.69 & \text{1b) } €16.10 \\
\text{2a) } ¥1312.16 & \text{2b) } €9.92 \\
\text{3a) } \$17.34 & \text{3b) } \$12.36
\end{array}
}
\]
Parent Tip: Review the logic above to help your child master the concept of rate conversions worksheet.
