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Question

Mr Tan wants to change $4 000 Singapore dollars to US dollars for a holiday trip

to the USA.
The exchange rate in Singapore is 1 SGD = 0.736 USD.
The exchange rate in USA is 1 USD = 1.352 SGD.
In which country should he change his money and how much more USD can he get?

Answer

In Singapore: 1 SGD = 0.736 USD. (A)

In USA: 1 USD = 1.352 SGD meaning 1 SGD = 1/1.352 = 0.73964 USD (B)

0.73964 USD > 0.736 USD bcos B>A so he should got to US then change his money.

0 Replies 1 Like ✔Accepted Answer

In Singapore:

1 SGD = 0.736 USD
4000 SGD = 0.736 x 4000
= 2944 USD

In USA:

1.352 SGD = 1 USD
1 SGD = (1 / 1.352) USD
4000 SGD = (4000 x 1 / 1.352) USD
2958.58 USD

Difference:

2958.58 USD – 2944 USD = 14.58 USD

Therefore he should change in the USA as he could get 14.58 USD more.

0 Replies 1 Like
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