Explore BrainMass

Explore BrainMass

    Currency Conversion

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    If i had exchanged £20,000 into rubles in January and converted back into pounds in November, paying 2.5% commission for each transaction, how much would I have in pounds, to the nearest penny?

    January exchange rate (rubles per pound) = 44.3623
    November exchange rate (rubles per pound) = 49.7023

    © BrainMass Inc. brainmass.com December 24, 2021, 4:47 pm ad1c9bdddf
    https://brainmass.com/business/international-finance/currency-calculations-converting-pounds-rubles-7444

    Solution Preview

    The first transaction gives us the following amount of rubles: 20,000 * 0.975 * 44.3623 = 865,064.85 ...

    Solution Summary

    This solution looks at converting pounds into rubles with a commission rate.

    $2.49

    ADVERTISEMENT