How to convert pesos to dollars
7.2 Currency calculation: Determine currency amounts: Euro => foreign currency
For these tasks, amounts in euros must be converted into a foreign currency at a given exchange rate:
Find out the amounts!
|1st task||given: amount: 44,250.00 €, rate: 23.1817|
wanted: Amount in MXN (Mexican peso)
|2nd task||given: amount: 3,750.00 €, rate: 1.5443|
wanted: Amount in CAD (Canadian dollar)
|3rd task||given: amount: 41,500.00 €, rate: 7.3806|
wanted: Amount in HRK (Croatian kuna)
|4th task||given: amount: 33,000.00 €, rate: 1.5834|
wanted: Amount in SGD (Singapore dollar)
|5th task||given: amount: 24,250.00 €, rate: 25.777|
wanted: amount in CZK (Czech koruna)
All exchange rates refer to the euro. Details like
US dollar (USD) = 1.4373
Japanese yen (JPY) = 115.20
Bulgarian lev (BGN) = 1.9558
Czech koruna (CZK) = 24,213
means that 1 euro equals $ 1.4373 USD or JPY 115.20, and so on.
To calculate the corresponding amount in a foreign currency, one uses the fact that the currency conversion involves simple ratio equations or rule of three problems with a straight or proportional ratio.
For example, the text of a task could be:
How much USD do you get for 10,000 euros if you get 1.4373 US dollars for 1 euro?
The relationship equation for this looks like this:
1 euro = 1.4373 USD
10,000 euros = x USD
|Formula for amount in USD|
|Solution of the sample problem|
Since the reference value for the conversion is always 1 euro, it can be omitted because it does not change the result mathematically, so that you can remember as a formula:
Amount in foreign currency = amount in euros · exchange rate
In the detailed notation, however, it becomes clear how the unit of the calculation result comes about.
If necessary, round the result to two places!
Good luck with your practice.
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