Question

tom is exchanging money for his trip to india. the exchange rate of us dollars to indian rupees is 1:45.897. tom needs 11,550 rupees. the currency exchange service he is using charges a fee of 7.25% after the exchange is made. how many us dollars will it cost tom to get the rupees he wants? round to the nearest dollar.
a. $235
b. $252
c. $263
d. $270

Explanation:

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<reasoning>

Convert rupees to US dollars

Using the Currency Conversion knowledge point
\[
\text{USD}_{\text{base}} = \frac{11550}{45.897} \approx 251.6504 \text{ USD}
\]

Apply the transaction fee

Using the Currency Conversion knowledge point
\[

$$\begin{aligned} \text{Fee Rate} &= 7.25\% = 0.0725 \\ \text{Total Cost} &= \text{USD}_{\text{base}} \times (1 + 0.0725) \\ &= 251.6504 \times 1.0725 \\ &\approx 269.895 \text{ USD} \end{aligned}$$

\]

Round to the nearest dollar

Using the Currency Conversion knowledge point
\[
\text{Total Cost} \approx 270 \text{ USD}
\]
</reasoning>

<answer>
<mcq-option>a. $235</mcq-option>
<mcq-option>b. $252</mcq-option>
<mcq-option>c. $263</mcq-option>
<mcq-correct>d. $270</mcq-correct>
</answer>

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"Business",
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"Exchange Rate Calculations"
]
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Answer:

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</pre_analysis>

<reasoning>

Convert rupees to US dollars

Using the Currency Conversion knowledge point
\[
\text{USD}_{\text{base}} = \frac{11550}{45.897} \approx 251.6504 \text{ USD}
\]

Apply the transaction fee

Using the Currency Conversion knowledge point
\[

$$\begin{aligned} \text{Fee Rate} &= 7.25\% = 0.0725 \\ \text{Total Cost} &= \text{USD}_{\text{base}} \times (1 + 0.0725) \\ &= 251.6504 \times 1.0725 \\ &\approx 269.895 \text{ USD} \end{aligned}$$

\]

Round to the nearest dollar

Using the Currency Conversion knowledge point
\[
\text{Total Cost} \approx 270 \text{ USD}
\]
</reasoning>

<answer>
<mcq-option>a. $235</mcq-option>
<mcq-option>b. $252</mcq-option>
<mcq-option>c. $263</mcq-option>
<mcq-correct>d. $270</mcq-correct>
</answer>

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"Exchange Rate Calculations"
]
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