Exchange Rate

CST

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If the exchange rates for Sterling and Euro continue to increase every day by the same amount of Rupees as today, in how many more days would a Euro buy more Rupees than one pound Sterling?

Thanks heaps to all
 
Just to check if I'm understanding the question: The information given here means that, as of today, each of the currencies has a value, in rupees, equal to the listed "closing point" and that value then increases/decreases each day by exactly the listed "change on day" amount. Is that correct?

Assuming that's correct, you know that one Sterling is equivalent to 56.58 rupees after 0 days (i.e. today). And it should be clear that after 1 day, one Sterling will be equivalent to 56.92 rupees. But how did you know that answer? What mathematical operation did you use? What will the value be after 2 days? After 3 days? After 10 days? In each of these cases, which operation did you use? Can you think of another operation which models repeated application of this operation? Based on this, if you let \(t\) stand for the number of days passed, can you create an expression for the value of a Sterling in terms of \(t\)? If you repeat the exact same line of reasoning and create an expression for the value of a Euro in terms of \(t\), you can then use these expressions to determine the value of \(t\) that results in the value of a Euro exceeding that of the value of a Sterling.
 
For Pounds Sterling, today's value is 56.58. It is increasing by 0.34 per day. So in ''d" days the value will be 56.58+ 0.34d. For Euros, today's value is 37.29. It is increasing by 1.34 per day. So in "d" days the value will be 37.29+ 1.34d. Euros will be more valuable when 37.29+ 1.34d> 56.58+ 0.34d.

(Ntice that the rate at which Euros are increasing is exactly 1 more than the rate at which Pounds Sterling is increasing. Euros are catching up to Pounds Sterling at one Rupee per day. Since the current difference is 56.58- 37.29= 19.29 Rupees, that will be the number or days required.)
 
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