27
QuizMultiple Choice

Converting Currency

Question 27 • FowU - Financial Math - B

Tess, who lives in the United States, is on a trip to Europe. She is going first to Germany, where the currency is the euro (€), and then to Switzerland, where the currency is the Swiss franc (CHF). As she travels from Germany to Switzerland, she finds that she has the equivalent of $527 remaining in euros, which she wishes to convert to Swiss francs. If, at the time of Tess’s exchanges, the exchange rate of the US dollar to the euro is 1:0.6957 and the exchange rate of the euro to the Swiss franc is 1:1.4755, how many Swiss francs does she have? Round all currencies to two decimal places.

Answer
A
366.63 francs
B
513.39 francs
C
540.96 francs
D
777.59 francs

Explanation

Convert the $527 to euros first: $527 × 0.6957 = €366.6339, which rounds to €366.63. Then convert the euros to francs: €366.63 × 1.4755 = CHF 540.962565, which rounds to CHF 540.96. Tess has 540.96 Swiss francs, choice C.

AI-written and checked against the verified answer.

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