Subjects finance

Currency Exchange D06F7F

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Currency Exchange D06F7F


1. The problem involves understanding currency exchange rates between British Pounds (£) and Euros (€). 2. We are given two exchange rates: £1 = €1.15 and £1 = €1.08. 3. These rates mean that for every 1 British Pound, you get 1.15 Euros at Airport 1 and 1.08 Euros at Airport 2. 4. To compare or convert amounts, use the formula: $$\text{Amount in Euros} = \text{Amount in Pounds} \times \text{Exchange Rate}$$ 5. For example, converting £68.31 to Euros at Airport 1: $$68.31 \times 1.15 = 78.5565$$ Euros. 6. At Airport 2, converting £68.31: $$68.31 \times 1.08 = 73.7548$$ Euros. 7. This shows that Airport 1 offers a better exchange rate for converting Pounds to Euros. 8. Always multiply the amount in Pounds by the exchange rate to get the equivalent in Euros.