1. **Problem statement:** Stephen converted some pounds at one of two airports and received €43.47. The exchange rates are: - Airport 1: £1 = €1.15 - Airport 2: £1 = €1.08 We need to find the smallest amount of pounds (£) Stephen could have converted to get exactly €43.47. 2. **Formula and explanation:** The amount in euros is given by: $$\text{euros} = \text{pounds} \times \text{exchange rate}$$ To find pounds from euros, rearrange: $$\text{pounds} = \frac{\text{euros}}{\text{exchange rate}}$$ 3. **Calculate pounds for each airport:** - For Airport 1: $$\text{pounds}_1 = \frac{43.47}{1.15} = 37.77826087...$$ - For Airport 2: $$\text{pounds}_2 = \frac{43.47}{1.08} = 40.25$$ 4. **Interpretation:** Stephen must have converted at least the amount of pounds calculated to get €43.47. Since pounds are usually counted in two decimal places, we consider the exact values. 5. **Smallest amount:** Between the two, the smallest amount of pounds converted is approximately £37.78 at Airport 1. **Final answer:** $$\boxed{37.78}$$ pounds is the smallest amount Stephen could have converted to receive €43.47.