China's currency is the yuan. If the exchange rate is 1 US dollar to 6.72 yuan, how many yuan would you receive in exchange for $35 USD?

Question

Quizplus · Accepted Answer

In this problem, you are asked to determine the amount of money you would obtain through an exchange of currencies. We know that the exchange rate between baht and the U.S. dollar is 1 U.S. dollar is equal to 6.72 yuan. If we were to right it as a ratio, it would look like: 1 : 6.72 Step 1: Represent the exchange rate as a fraction. In order to perform this conversion, we need to write the exchange rate (the ratio) as a fraction. The numerator should be the currency you would like to convert to (yuan) and the denominator will be the currency you have (U.S. dollars). ^6.72/₁ Step 2: Multiply the exchange rate fraction by the amount you would like to exchange: 35 • ^6.72/₁ = ^235.2/₁ = 235.2 yuan We then round to the nearest yuan, which results in 235. Answer: 235 yuan is equal to $35 US dollars

China's Currency Is the Yuan