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14 Jun 2016, 13:38
6
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00:00

Difficulty:

5% (low)

Question Stats:

90% (01:03) correct 10% (01:32) wrong based on 1259 sessions

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On a vacation,Rose exchanged $500.00 for euros at an exchange rate of 0.80 euro per dollar and spent $$\frac{3}{4}$$ of the euros she received.If she exchanged the remaining euros for dollars at an exchange rate of$1.20 per euro, what was the dollar amount she received?

A) $60.00 B)$80.00
C) $100.00 D)$120.00

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14 Jun 2016, 17:15
5
3
AbdurRakib wrote:
On a vacation,Rose exchanged $500.00 for euros at an exchange rate of 0.80 euro per dollar and spent $$\frac{3}{4}$$ of the euros she received.If she exchanged the remaining euros for dollars at an exchange rate of$1.20 per euro, what was the dollar amount she received?

A) $60.00 B)$80.00
C) $100.00 D)$120.00
E) $140.00 Dear AbdurRakib, This is a great question! Thanks for posting it! I'm happy to respond. Step #1 She exchanges$500 for euros at 0.8 euro/dollar. Set up a proportion, where x is the number of euros she originally received

(x/$500) = (0.8 euro)/($1)

Cross-multiply and use the doubling & halving rule:
x = 0.8*500 = 0.4*1000 = 400 euros

Step #2
She spends 3/4, so after her wild days in Europe, she is left with just 100 euros.

Step #3
She exchanges 100 euros back to dollars at $1.20 per euro. Again set up a proportion, where y is the number of dollars she gets back. y/100 =$1.20/(1 euro)

Cross-multiply:

y = $1.20*100 =$120

Does all this make sense?
Mike
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Mike McGarry
Magoosh Test Prep

Education is not the filling of a pail, but the lighting of a fire. — William Butler Yeats (1865 – 1939)

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02 Dec 2016, 06:47
2
1
AbdurRakib wrote:
On a vacation,Rose exchanged $500.00 for euros at an exchange rate of 0.80 euro per dollar and spent $$\frac{3}{4}$$ of the euros she received.If she exchanged the remaining euros for dollars at an exchange rate of$1.20 per euro, what was the dollar amount she received?

A) $60.00 B)$80.00
C) $100.00 D)$120.00
E) $140.00 We are given that Rose exchanged$500.00 for euros at an exchange rate of 0.80 euro per dollar. Since 1 dollar = 0.8 euros, 500 dollars = 500 x 0.8 = 400 euros.

Since she spent spent 3/4 of her euros, she was left with 1/4 x 400 = 100 euros.

Finally, she exchanged her remaining euros for dollars at a rate of 1.20 dollars per euro.

Since 1 euro = 1.20 dollars, she ended up with 100 x 1.2 = 120 dollars.

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On a vacation,Rose exchanged $500.00 for euros at an exchange rate [#permalink] ### Show Tags 22 Jun 2017, 04:23 2 AbdurRakib wrote: On a vacation,Rose exchanged$500.00 for euros at an exchange rate of 0.80 euro per dollar and spent $$\frac{3}{4}$$ of the euros she received.If she exchanged the remaining euros for dollars at an exchange rate of $1.20 per euro, what was the dollar amount she received? A)$60.00
B) $80.00 C)$100.00
D) $120.00 E)$140.00

No Need to convert $to Euro and Vice-versa. Exchange rate of$ to Euro = 0.80
Exchange rate of Euro to $= 1.20 % of Money Received if she exchanges$500 to Euro and back = 0.8 * 1.2 = 0.96 = 96%

Therefore, there is a 4% Net loss of Money due to exchange.

$left after Expenditure = $$500*\frac{1}{4} = 125$$ Loss due to Exchange = 4% of 125 = $$\frac{(125*4)}{100}= 5$$ Net$ she is left with = 125 - 5 = $120 _________________ I'd appreciate learning about the grammatical errors in my posts Please hit Kudos If my Solution helps My Debrief for 750 - https://gmatclub.com/forum/from-720-to-750-one-of-the-most-difficult-pleatues-to-overcome-246420.html My CR notes - https://gmatclub.com/forum/patterns-in-cr-questions-243450.html Intern Joined: 11 Feb 2017 Posts: 1 Re: On a vacation,Rose exchanged$500.00 for euros at an exchange rate  [#permalink]

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15 Nov 2017, 21:24
Let me try to help in a simple manner.

$500*0.8*1/4*1.2 =$500*4/5*1/4*6/5
= $120 Posted from my mobile device Re: On a vacation,Rose exchanged$500.00 for euros at an exchange rate &nbs [#permalink] 15 Nov 2017, 21:24
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