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Mr Da Sousa, a South African outbound tourist, is going to Portugal - NSC Tourism - Question 3 - 2024

Question 3

Mr Da Sousa, a South African outbound tourist, is going to Portugal. Before his departure from South Africa, he exchanges ZAR35 500,00 at a forex kiosk at the OR Tam... show full transcript

Worked Solution & Example Answer:Mr Da Sousa, a South African outbound tourist, is going to Portugal - NSC Tourism - Question 3 - 2024

Step 1

Calculate how much he will receive in euro when he exchanges his foreign currency.

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Answer

To determine how much Mr Da Sousa will receive in euros, we use the given exchange rate:

Identify the Amount in ZAR: ZAR 35 500,00
Exchange Rate: ZAR 18.75 = €1

We can set up the calculation as follows:

$ext{Euros received} = rac{ ext{ZAR}}{ ext{Exchange Rate}} = rac{35 500}{18.75}$

Calculating this gives:

$ext{Euros received} = €1 893.33$

Step 2

Calculate the amount that he will receive in rand.

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Answer

To find out how much Mr Da Sousa will receive in rand for the 248 euros, we need to use the exchange rate:

Amount in Euros: €248
Exchange Rate: €1 = ZAR 18.10

Setting up the calculation:

$ext{Rand received} = ext{Euros} imes ext{Exchange Rate} = 248 imes 18.10$

Calculating this results in:

$ext{Rand received} = R4 488.80$

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