Of the money he spent on his trip, the following list shows items and expenses Christopher paid for before and during his trip, as well as whether the purchase took place in US dollars (USD), Singapore dollars (SGD), or Australian dollars (AUD).
| Item | Cost | Currency |
|--------------|---------|----------|
| Camera | 139.54 | USD |
| Ferry ticket | 525.15 | AUD |
| Passport | 33.45 | USD |
| Guide book | 62.99 | SGD |
| Hat | 42.74 | SGD |
| Plane ticket | 849.52 | AUD |
When Christopher was on his trip, the exchange rate for US dollars to Singapore dollars was $1: 1.3914, and the exchange rate for Singapore dollars to Australian dollars was 1:0.7786. How much did Christopher spend in total, measured in US dollars? Round all currency values to two decimal places.
A. $1,517.89
B. $1,526.19
Answer (2)
Christopher spent a total of $1516.39 during his trip when all expenses were converted to US dollars. This includes expenses from different currencies: Australian dollars and Singapore dollars. The final calculated total encompasses all his purchases against current exchange rates.
;
Calculate the total expenses in AUS: 525.15 + 849.52 = 1374.67 AUS .
Calculate the total expenses in SS: 62.99 + 42.74 = 105.73 SS .
Convert SS to AUS: 105.73 × 0.7786 = 82.32 AUS .
Convert total AUS to SS: ( 1374.67 + 82.32 ) × ( 1/0.7786 ) = 1869.17 SS .
Convert total SS to USD: 1869.17 × ( 1/1.3914 ) = 1343.40 USD .
Calculate total expenses in USD: 1343.40 + 139.54 + 33.45 = 1516.39 USD .
Therefore, the total expenses in US dollars is $1516.39 .
Explanation
Calculate total AUS expenses First, we need to calculate the total expenses in Australian dollars (AUS). Christopher spent 525.15 AUS on the ferry ticket and 849.52 AUS on the plane ticket. Adding these together gives us: 525.15 + 849.52 = 1374.67 AUS
Calculate total SS expenses Next, we calculate the total expenses in Singapore dollars (SS). Christopher spent 62.99 SS on the guide book and 42.74 SS on the hat. Adding these together gives us: 62.99 + 42.74 = 105.73 SS
Convert SS to AUS Now, we need to convert the Singapore dollars to Australian dollars. We know that 1 SS = 0.7786 AUS. So, 105.73 SS is equal to: 105.73 × 0.7786 = 82.32 AUS (rounded to two decimal places)
Calculate total expenses in AUS We add this amount to the total expenses in AUS: 1374.67 + 82.32 = 1456.99 AUS
Convert AUS to SS Now we need to convert the total expenses in Australian dollars to Singapore dollars. Since 1 SS = 0.7786 AUS, then 1 AUS = 1/0.7786 SS. Therefore, 1 AUS = 0.7786 1 SS = 1.2843 SS (rounded to four decimal places) So, 1456.99 AUS is equal to: 1456.99 × 1.2843 = 1869.17 SS (rounded to two decimal places)
Convert SS to USD Now, we convert the total expenses in Singapore dollars to US dollars. We know that 1 US dollar = 1.3914 Singapore dollars. Therefore, 1 SS = 1.3914 1 US dollars = 0.7187 US dollars (rounded to four decimal places) So, 1869.17 SS is equal to: 1869.17 × 0.7187 = 1343.40 US dollars (rounded to two decimal places)
Calculate total USD expenses Finally, we add the expenses Christopher paid in US dollars. He spent 139.54 USD on the camera and 33.45 USD on the passport. Adding these together gives us: 139.54 + 33.45 = 172.99 USD
Calculate total expenses in USD Adding the converted expenses in US dollars to the original expenses in US dollars gives us the total expenses in US dollars: 1343.40 + 172.99 = 1516.39 USD
Final Answer Therefore, Christopher spent a total of $1516.39 on his trip, measured in US dollars.
Examples
Understanding currency conversion is essential for international travel and trade. For example, if you're planning a trip to Europe, you'll need to convert US dollars to Euros to understand the cost of goods and services. Similarly, businesses involved in importing and exporting goods need to monitor exchange rates to accurately price their products and manage their profits. Knowing how to convert currencies allows you to make informed financial decisions when dealing with different monetary systems. This is also applicable when calculating investments in foreign stock markets or real estate.
