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Before leaving on a trip, Ms. Rodes exchanged 500 United States dollar

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Before leaving on a trip, Ms. Rodes exchanged 500 United States dollar  [#permalink]

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New post Updated on: 02 Nov 2018, 04:21
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Difficulty:

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Question Stats:

85% (02:07) correct 15% (03:00) wrong based on 52 sessions

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Before leaving on a trip, Ms. Rodes exchanged 500 United States dollars for German marks at an exchange rate of 1.55 marks per dollar. When the trip was canceled, she exchanged the total amount of marks for dollars at an exchange rate of 0.60 dollar per mark. What was the total amount, in dollars, that she lost through the two transactions?

(A) $20.00
(B) $30.00
(C) $35.00
(D) $45.00
(E) $55.00

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Originally posted by pushpitkc on 02 Nov 2018, 04:19.
Last edited by Bunuel on 02 Nov 2018, 04:21, edited 1 time in total.
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Re: Before leaving on a trip, Ms. Rodes exchanged 500 United States dollar  [#permalink]

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New post 02 Nov 2018, 04:55
1
1 dollar = 1.55 German marks
500 dollars = 775 Marks
Now, 1 mark = .60 dollar
775 mark = .60*775 = $465

500 - 465 = $35

C is the correct answer

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Re: Before leaving on a trip, Ms. Rodes exchanged 500 United States dollar  [#permalink]

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New post 02 Dec 2019, 06:43
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pushpitkc wrote:
Before leaving on a trip, Ms. Rodes exchanged 500 United States dollars for German marks at an exchange rate of 1.55 marks per dollar. When the trip was canceled, she exchanged the total amount of marks for dollars at an exchange rate of 0.60 dollar per mark. What was the total amount, in dollars, that she lost through the two transactions?

(A) $20.00
(B) $30.00
(C) $35.00
(D) $45.00
(E) $55.00


Let's use equivalent ratios to solve this question

Ms. Rodes exchanged 500 United States dollars for German marks at an exchange rate of 1.55 marks per dollar.
In other words: marks/dollars = 1.55/1

So, we can write: x/500 = 1.55/1
Cross multiply to get: x = (500)(1.55) = 775
So, $500 is equal to 775 marks

When the trip was canceled, she exchanged the total amount of marks for dollars at an exchange rate of 0.60 dollar per mark.
So she now wants to exchange her 775 marks to dollars.
The new exchange rate is: dollars/marks = 0.6/1
So, we can write: y/775= 0.6/1
Cross multiply to get: y = (775)(0.6) = 465 dollars

What was the total amount, in dollars, that she lost through the two transactions?
Ms Rodes started with $500 and now has 465 dollars
$500 - $465 = $35

Answer: C

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Re: Before leaving on a trip, Ms. Rodes exchanged 500 United States dollar  [#permalink]

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New post 02 Dec 2019, 12:14
Using a conversion ratio to marks:
$500*\(\frac{1.55 marks}{$1}\)=775 marks
converting back to dollars:
775 marks*\(\frac{$0.6}{1 mark}\)= $465
500-465= $35
Ans=C
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Re: Before leaving on a trip, Ms. Rodes exchanged 500 United States dollar  [#permalink]

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New post 10 Dec 2019, 20:28
pushpitkc wrote:
Before leaving on a trip, Ms. Rodes exchanged 500 United States dollars for German marks at an exchange rate of 1.55 marks per dollar. When the trip was canceled, she exchanged the total amount of marks for dollars at an exchange rate of 0.60 dollar per mark. What was the total amount, in dollars, that she lost through the two transactions?

(A) $20.00
(B) $30.00
(C) $35.00
(D) $45.00
(E) $55.00



First, Ms. Rodes received 500 x 1.55 = 775 marks from exchanging 500 dollars.

Next, when converting marks back to dollars, she received 775 x 0.6 = 465 dollars.

Thus, she lost 500 - 465 = 35 dollars.

Answer: C
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Re: Before leaving on a trip, Ms. Rodes exchanged 500 United States dollar   [#permalink] 10 Dec 2019, 20:28
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