You just received a gift from a friend consisting of 1,000 Thai baht, which you would like to exchange for Australian dollars (A$). You observe that exchange rate quotes for the baht are currently £0.0115, while quotes for the Australian dollar are £0.288. How many Australian dollars should you expect to receive for your baht?

Question

Quizplus · Accepted Answer

To convert Thai baht to Australian dollars, we need to first convert Thai baht to British pounds and then convert British pounds to Australian dollars.1,000 Thai baht = 1,000 x £0.0115 = £11.50£11.50 = £11.50 x A$0.288 = A$399Therefore, you should expect to receive A$399 for your 1,000 Thai baht.

You Just Received a Gift from a Friend Consisting of 1,000