Subjects algebra

Exchange Rate

Step-by-step solutions with LaTeX - clean, fast, and student-friendly.

Search Solutions

Exchange Rate


1. The problem gives us two exchange rates for pounds (£) to Australian dollars ($) from two travel agents, Aussie Holidays and Kangaroo Travel, both starting at the origin (0,0). 2. We want to find the difference in Australian dollars received when exchanging £60 at the two agents. 3. Since both lines start at (0,0) and show linear relationships, we calculate the rate (slope) for each agent by examining their graphs between 0 and 20 pounds. 4. Aussie Holidays line reaches about $60 for £20, so its rate is $$\frac{60}{20} = 3$$ dollars per pound. 5. Kangaroo Travel line reaches about $40 for £20, so its rate is $$\frac{40}{20} = 2$$ dollars per pound. 6. Now, multiply £60 by each rate to find how many Australian dollars each agent gives: - Aussie Holidays: $$60 \times 3 = 180$$ dollars - Kangaroo Travel: $$60 \times 2 = 120$$ dollars 7. The difference between the amounts received is $$180 - 120 = 60$$ Australian dollars. 8. Therefore, you would receive 60 more Australian dollars exchanging £60 with Aussie Holidays than with Kangaroo Travel.