In the United States,we can buy a pair of shoes for $55.These shoes are identical in all aspects to a pair of shoes from Japan that be purchased for ¥6,000 including shipping costs.What percentage (relative to $55 U.S.cost)can we save by buying the shoes in Japan if the exchange rate is $1 for ¥120?

Question

Quizplus · Accepted Answer

First, we need to convert the Japanese yen cost to USD using the given exchange rate:

¥6,000 ÷ 120 = $50

Next, we find the difference between the USD cost of the shoes in the US and in Japan:

$55 - $50 = $5

Finally, we calculate the percentage savings relative to the USD cost by dividing the difference by the USD cost and multiplying by 100:

$5 ÷ $55 × 100 = 9.09%

Therefore, the percentage savings by buying the shoes in Japan is 9.09% (rounded to two decimal places), which is option C.

In the United States,we Can Buy a Pair of Shoes