Question

Brian wants to exchange South-African rand for British pound. if he must pay an agent commission of 1.5%?

Ask by Summers Munoz. in South Africa
Mar 09,2025

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Answer

After paying a 1.5% commission, Brian receives 98.5% of his South-African rand, which converts to British pounds at the given exchange rate.

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Bonus Knowledge

When exchanging currency, Brian should keep in mind that the agent’s commission will affect the total amount of British pounds he will receive. If he plans to exchange 10,000 South-African rand, the agent will take 1.5% as a fee, which would subtract 150 rand from the total. So, instead of exchanging the full 10,000 rand, he’ll be working with 9,850 rand. To make sure he gets the best deal, Brian should shop around for the most favorable exchange rates. Different banks and currency exchange services may offer varying rates, and even a small difference can significantly impact how many pounds he will ultimately receive after the commission is deducted!

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