the exchange rate between non-fixed currencies continuously fluctuates. the following chart shows the exchange rate of the pound sterling to the japanese yen over a period of six days.

if grace traded $¥34,712$ for $£242.73$, on what day did she make her exchange?
a. monday
b. tuesday
c. thursday
d. saturday

Question

the exchange rate between non-fixed currencies continuously fluctuates. the following chart shows the exchange rate of the pound sterling to the japanese yen over a period of six days.

if grace traded $¥34,712$ for $£242.73$, on what day did she make her exchange?
a. monday
b. tuesday
c. thursday
d. saturday

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "tutor", "mastery_adaptive_brevity" ], "needs_drawing": false, "concepts_used": [ "Currency Conversion", "Table Reading" ], "new_concepts": [], "current_concepts": [ "Currency Conversion", "Table Reading" ] } ## Calculate the exchange rate Using the *Currency Conversion* knowledge point $$ \text{Exchange Rate } (\text{JPY per GBP}) = \frac{\text{Yen Amount}}{\text{Pound Amount}} = \frac{34712}{242.73} \approx 143.007457 $$ ## Match the rate to the table Using the *Table Reading* knowledge point $$ \begin{aligned} &\text{Monday: } 148.176 \ &\text{Tuesday: } 144.209 \ &\text{Wednesday: } 149.890 \ &\text{Thursday: } 141.014 \ &\text{Friday: } 138.650 \ &\text{Saturday: } 143.007 \end{aligned} $$ The calculated rate of approximately $143.007$ matches Saturday.

a. Monday

b. Tuesday

c. Thursday

d. Saturday

{ "subject": "Mathematics", "question_type": "Multiple Choice", "knowledge_point": [ "Mathematics", "Algebra", "Currency Conversion" ] }

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QUESTION IMAGE

Question

Explanation:

Calculate the exchange rate

Match the rate to the table

Answer: