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approximate equivalent of his annual salary in rands. 3 Mr. and Mrs. Yamamoto are visiting South Africa and want to have an idea of howy expensive services and goods are here. They can only compare if they have the prices in Japanese yen ( \( X \) ) . Use the conversion table (Table 1) to convert the following prices 10 yen. 3.1 Accommodation at R350 per person per night. 3.2 Entrance fee at a museum at R 50 per person. 33 The average cost of a meal at a restaurant at R 120 per person. * Marika wants to buy an iPad over the Internet. She does research to fin the best price. She finds three prices: R5 199,00; \( \$ 529,00 \) and \( £ 429,00 \). E. 1 Use the exchange rate in Table 1 and find the USD price in rand. 42 Use the exchange rate in Table 1 and find the GBP price in rand. 43 Compare the three prices and write down where you think Marika should buy the iPad.

Ask by Mathis Wang. in South Africa
Feb 20,2025

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Answer

To find the equivalent prices in rands, use the conversion rates from the table: 1. **Accommodation**: 350 yen per night × 0.35 rands per yen = 122.50 rands per night 2. **Museum Entrance**: 50 yen per person × 0.35 rands per yen = 17.50 rands per person 3. **Restaurant Meal**: 120 yen per person × 0.35 rands per yen = 42.00 rands per person For the iPad prices: 1. **USD**: 529 USD × 14.5 rands per USD = 7,661.50 rands 2. **GBP**: 429 GBP × 18.5 rands per GBP = 7,947.50 rands Marika should buy the iPad for 5,199 rands, which is the cheapest option.

Solution

To find the approximate equivalent of Mr. and Mrs. Yamamoto's annual salary in rands, we need to convert the prices of services and goods in Japanese yen to rands using the conversion table provided. Given: - Accommodation at R350 per person per night - Entrance fee at a museum at R50 per person - Average cost of a meal at a restaurant at R120 per person Let's convert the prices to rands using the conversion table: 1. Accommodation at R350 per person per night: - 10 yen = R0.35 (using the conversion table) - Accommodation at R350 per person per night = 350 * 0.35 = R122.50 per person per night 2. Entrance fee at a museum at R50 per person: - 10 yen = R0.35 (using the conversion table) - Entrance fee at a museum at R50 per person = 50 * 0.35 = R17.50 per person 3. Average cost of a meal at a restaurant at R120 per person: - 10 yen = R0.35 (using the conversion table) - Average cost of a meal at a restaurant at R120 per person = 120 * 0.35 = R42.00 per person Now, let's find the USD price in rands and the GBP price in rands using the exchange rates provided: 1. USD price in rands: - 1 USD = 14.5 rands (using the conversion table) - USD price in rands = 529 * 14.5 = R7,661.50 2. GBP price in rands: - 1 GBP = 18.5 rands (using the conversion table) - GBP price in rands = 429 * 18.5 = R7,947.50 Comparing the three prices, Marika should buy the iPad from the store that offers the best price. In this case, the best price is R5,199.00, which is the price in rands.

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Beyond the Answer

When it comes to currency conversion, knowing the historical background of exchange rates can help you grasp how economies fluctuate. For instance, in the late 1990s, the Japanese yen was particularly strong against the South African rand, meaning travelers could enjoy more bang for their yen when exploring South Africa. These rates do change often, offering a fascinating glimpse into economic conditions between nations! Understanding real-world applications of these conversions can help Marika make a savvy purchase decision. She should not only factor in the current exchange rates but also consider potential shipping fees or taxes on international purchases. By calculating the final cost in rands for each iPad option, she can ensure the best deal, ultimately making her tech investment as affordable as possible!

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