How many dollars did he receive if he exchanged 42.7 pesos at a rate of $5.30 = 11.1 pesos.
To find out how many dollars he received when exchanging 42.7 pesos, we need to follow these steps:
Step 1: Calculate the number of pesos he will receive for every dollar by dividing the exchange rate:
pesos per dollar = 11.1 pesos / $5.30 ≈ 2.0943 pesos/dollar
Step 2: Determine the number of dollars he will receive by dividing the amount of pesos exchanged by the pesos per dollar rate:
dollars received = 42.7 pesos / 2.0943 pesos/dollar ≈ $20.3905
Therefore, he received approximately $20.39 when exchanging 42.7 pesos at the given exchange rate.
5.30/11 = x/42.7
Cross multiply and solve for x.
11x = 226.31
x = $20.57