Question

A South African importer buys auto parts from a German manufacturer, and is invoiced for €5 000.00. Calculate the cost in rands if the exchange rate is R10.43 to 1€?

Answer 1

Solution

Exchange rate: 1€     = R10.43

€5 000.00 =   ?

Cost in rands = $(€5 000.00 * R10.43)/ 1€$

Cost in rands = $R5 000.00 * R10.43$

Cost in rands = R 52,150