00:01
This problem covers the concept of the money and exchange rate.
00:04
We're given us dollars per british pounds and we're asked which state would have been the best to convert $200 into the british pounds and which day would have been the worst as well as what would be the difference in pounds for the best and the worst date.
00:19
So let's start by answering which what is the best state to convert the money.
00:25
So to solve this we have to first to find the exchange rate for us dollars per british pound to be minimized because we want we have us dollars in hand and we want our british pound per us dollars to be maximized.
00:39
So on april 25th, the exchange rate is 1 .674 us dollar to british pound.
00:58
Okay.
01:00
This is also equivalent to, if we find a reciprocal of this, that's decimal over here.
01:14
This is also equivalent to 0 .594 great british pound to us dollars.
01:30
And what is $200 us dollars worth in british pound? well, we'll take 0 .594 times 200 u .s.
01:43
Dollars.
01:45
This will give us 119 .8753 british pound.
01:54
So the best state to convert is on 25th of april.
02:04
Now, what is the worst state to convert? for the worst state, where we want to find the maximum u .s...