Question

A Kenyan bank buys and sells foreign currencies at the exchange rates shown below.
                    BUYING (KSHS)                  SELLING (KSHS)
1Euro                147.56                               148.00
1U.S Dollar          74.22                                 74.50
An American arrived in Kenya with 20,000 Euros. He converted all the Euros into Kenyan Shillings at the bank. He spent Kshs.2,510,200 while in Kenya and converted the remaining Kenya shillings into U.S Dollars at the bank. Find the amount in dollars that he received.

Answer 1

1Euro           →  Kshs 147.56
20,000Euros          ?
20000 × 147.56
           1
=Kshs 2,951,200
2,951,200 − 2,510,200 = Kshs 441,000
1U.S Dollar → Kshs 74.50
                      Kshs 441,000
=441000 × 1
      74.50
=5919.46 U.S Dollars