10
QuizMultiple Choice

Converting Currency

Question 10 • FowU - Financial Math - B

Sharon is preparing for a trip to Kuwait. She calculates that she will need $1,166 to be converted to Kuwaiti dinar. If the exchange rate of US dollars to Kuwaiti dinar is 1:0.2879, how many dinar does Sharon have? Round your answer to two decimal places.

Answer
A
335.69 dinar
B
405.00 dinar
C
3,356.91 dinar
D
4,050.02 dinar

Explanation

The rate 1:0.2879 means each US dollar is worth 0.2879 Kuwaiti dinar. Multiply Sharon’s $1,166 by 0.2879: 1,166 × 0.2879 = 335.6914 dinar. Rounded to two decimal places, she has 335.69 dinar, choice a.

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