This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Step 1: Convert Euros to Kenyan Shillings (Ksh). The American has 20,000 Euros and wants to convert them to Kenyan Shillings. The bank is buying Euros from the customer. From the table, the bank's buying rate for 1 Euro is Ksh 147.86. Amount in Ksh = 20,000 Euros × 147.86 Ksh/Euro Amount in Ksh = 2,957,200 Ksh Step 2: Subtract the amount spent in Kenya. The American spent Sh. 2,512,000. Remaining Ksh = 2,957,200 Ksh - 2,512,000 Ksh Remaining Ksh = 445,200 Ksh Step 3: Convert the remaining Kenyan Shillings to US Dollars. The American wants to convert the remaining Ksh into US Dollars. The bank is selling US Dollars to the customer. From the table, the bank's selling rate for 1 US Dollar is Ksh 74.50. Amount in Dollars = Remaining KshSelling rate for 1 US Dollar Amount in Dollars = 445,200 Ksh74.50 Ksh/Dollar Amount in Dollars = 5,975.8389 Dollars Step 4: Round the final amount to two decimal places (standard for currency). Amount in Dollars ≈ 5,975.84 Dollars The final answer is 5,975.84 Dollars.