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Math

QuestionMitchell exchanges 150 US dollars for Canadian dollars, spends 20 CAD, then converts the rest back to USD. How much USD is left?

Studdy Solution

STEP 1

Assumptions1. Mitchell initially has150 US dollars. He exchanges all his US dollars for Canadian dollars3. He spends20 Canadian dollars4. He exchanges all his remaining Canadian dollars back to US dollars5. We are not given the exchange rates, so we will use the following assumptions - The exchange rate from US dollars to Canadian dollars is1.25 - The exchange rate from Canadian dollars to US dollars is0.8

STEP 2

First, we need to find how many Canadian dollars Mitchell gets when he exchanges his US dollars. We can do this by multiplying the amount of US dollars by the exchange rate.
Canadian dollars=US dollarstimesExchange rate (US to Canada)Canadian\, dollars = US\, dollars \\times Exchange\, rate\, (US\, to\, Canada)

STEP 3

Now, plug in the given values for the US dollars and the exchange rate to calculate the Canadian dollars.
Canadian dollars=$150times1.25Canadian\, dollars = \$150 \\times1.25

STEP 4

Calculate the amount of Canadian dollars.
Canadian dollars=$150times1.25=$187.Canadian\, dollars = \$150 \\times1.25 = \$187.

STEP 5

Mitchell spends20 Canadian dollars, so we need to subtract this from the total amount of Canadian dollars.
Remaining Canadian dollars=Canadian dollars−Spent amountRemaining\, Canadian\, dollars = Canadian\, dollars - Spent\, amount

STEP 6

Plug in the values for the Canadian dollars and the spent amount to calculate the remaining Canadian dollars.
Remaining Canadian dollars=$187.5−$20Remaining\, Canadian\, dollars = \$187.5 - \$20

STEP 7

Calculate the remaining Canadian dollars.
Remaining Canadian dollars=$187.5−$20=$167.5Remaining\, Canadian\, dollars = \$187.5 - \$20 = \$167.5

STEP 8

Now, we need to find how many US dollars Mitchell gets when he exchanges his remaining Canadian dollars. We can do this by multiplying the amount of Canadian dollars by the exchange rate.
US dollars=Canadian dollarstimesExchange rate (Canada to US)US\, dollars = Canadian\, dollars \\times Exchange\, rate\, (Canada\, to\, US)

STEP 9

Plug in the given values for the Canadian dollars and the exchange rate to calculate the US dollars.
US dollars=$167.5times.8US\, dollars = \$167.5 \\times.8

STEP 10

Calculate the amount of US dollars.
US dollars=$167.5times0.8=$134US\, dollars = \$167.5 \\times0.8 = \$134Mitchell has $134 remaining.

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