Question
Brain wants to exchange South African rand for British pound. If R1 is worth 0,075199 pound, how many pounds will he get for R2 100? If past pay an agent commission of \( 1,5 \% \)?
Ask by Lawson Bob. in South Africa
Feb 20,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
Brain will receive approximately £155.55 after exchanging R2,100 and paying a 1.5% commission.
Solution
To solve the problem, we need to follow these steps:
1. **Calculate the amount of pounds Brain will get for R2,100 without the commission.**
2. **Calculate the commission amount.**
3. **Subtract the commission from the total pounds to find out how much Brain will actually receive.**
### Step 1: Calculate the amount of pounds for R2,100
Given that R1 is worth 0.075199 pounds, we can find out how many pounds Brain will get for R2,100 by multiplying the amount in rand by the exchange rate.
Let:
- \( R = 2100 \)
- \( P = 0.075199 \)
The formula to calculate the pounds is:
\[
\text{Pounds} = R \times P
\]
### Step 2: Calculate the commission amount
The commission is 1.5% of the total pounds obtained. We can calculate the commission using the formula:
\[
\text{Commission} = \text{Pounds} \times \frac{1.5}{100}
\]
### Step 3: Calculate the final amount of pounds after commission
Finally, we subtract the commission from the total pounds to find out how much Brain will actually receive:
\[
\text{Final Pounds} = \text{Pounds} - \text{Commission}
\]
Now, let's perform the calculations step by step.
First, we will calculate the total pounds for R2,100.
\[
\text{Pounds} = 2100 \times 0.075199
\]
Let's calculate this.
Calculate the value by following steps:
- step0: Calculate:
\(2100\times 0.075199\)
- step1: Multiply the numbers:
\(157.9179\)
Calculate or simplify the expression \( 157.9179 * 0.015 \).
Calculate the value by following steps:
- step0: Calculate:
\(157.9179\times 0.015\)
- step1: Multiply the numbers:
\(2.3687685\)
Calculate or simplify the expression \( 157.9179 - 2.3687685 \).
Calculate the value by following steps:
- step0: Calculate:
\(157.9179-2.3687685\)
- step1: Subtract the numbers:
\(155.5491315\)
Now, let's summarize the calculations step by step:
### Step 1: Calculate the amount of pounds for R2,100
\[
\text{Pounds} = 2100 \times 0.075199 = 157.9179
\]
### Step 2: Calculate the commission amount
The commission is 1.5% of the total pounds:
\[
\text{Commission} = 157.9179 \times \frac{1.5}{100} = 2.3687685
\]
### Step 3: Calculate the final amount of pounds after commission
\[
\text{Final Pounds} = 157.9179 - 2.3687685 = 155.5491315
\]
Thus, after paying the agent's commission, Brain will receive approximately **£155.55**.
Answered by UpStudy AI and reviewed by a Professional Tutor
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Mind Expander
If R1 is worth 0.075199 pounds, then R2,100 would be worth \( 2,100 \times 0.075199 = 158.9579 \) pounds. However, Brain also needs to consider the agent's commission of 1.5%. Calculating the commission: \( 158.9579 \times 0.015 = 2.3844 \) pounds. Subtracting the commission from the total, Brain would receive \( 158.9579 - 2.3844 = 156.5735 \) pounds. So, after the commission, Brain can expect to receive approximately 156.57 pounds.