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At bank A the exchange rate between pounds and is dollars is £1=$1.27
At bank B the exchange rate is £1=$1.30 but a transaction fee of £6 is first taken from the amount in pounds that is being exchanged
Use this information to fill on the gap
If you exchange more than £___ you will recieve more US dollars at bank A than at bank B

Respuesta :

Answer: 200 US dollars

At bank A:

Exchange rate: £1 = $1.27

So, at bank A, you would receive 1.27x1.27xin US dollars.

At bank B:Exchange rate: £1 = $1.30

Transaction fee: £6

The amount in US dollars at bank B would be (1.30x−6)(1.30x−6).

To find the point where you would receive more US dollars at bank A than at bank B, set up the inequality:1.27x>1.30x−6

Now, solve for x:

0.03x<6

x<6/0.03 ​x<200x<200

So, if you exchange more than £200, you will receive more US dollars at bank A than at bank B.

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