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Currency Conversion

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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

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Solution Summary

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

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

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