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Register now and save up to $200 Available with Beat the GMAT members only code • Free Veritas GMAT Class Experience Lesson 1 Live Free Available with Beat the GMAT members only code • Free Practice Test & Review How would you score if you took the GMAT Available with Beat the GMAT members only code • Magoosh Study with Magoosh GMAT prep Available with Beat the GMAT members only code ## Exchange Question This topic has 5 expert replies and 0 member replies AbeNeedsAnswers Master | Next Rank: 500 Posts Joined 02 Jul 2017 Posted: 191 messages Followed by: 2 members Upvotes: 1 #### Exchange Question Sun Jul 02, 2017 11:11 am Is there a fast way to work through this question? On a vacation, Rose exchanged$500.00 for euros at an exchange rate of 0.80 euro per dollar and spent 3/4 of the euros she received. If she exchanged the remaining euros for dollars at an exchange rate of $1.20 per euro, what was the dollar amount she received? A)$60.00
B) $80.00 C)$100.00
D) $120.00 E)$140.00

D

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### GMAT/MBA Expert

Matt@VeritasPrep GMAT Instructor
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Wed Jul 05, 2017 12:46 am
That said, here'd be my way.

Rose got $500 * (4/5) => â‚¬400. Rose spent (3/4) * â‚¬400 => â‚¬300. Rose was left with â‚¬100, for which she recieved$(1.2 * 100), or $120. This seems like an easy problem by the GMAT's standards, so if it's giving you a lot of trouble brush up on your computation. In my experience, most students are quite poor at computation when they start studying for the GMAT - even the students whose abstract reasoning is really impressive - but they're often able to (re)learn it very quickly. Enroll in a Veritas Prep GMAT class completely for FREE. Wondering if a GMAT course is right for you? Attend the first class session of an actual GMAT course, either in-person or live online, and see for yourself why so many students choose to work with Veritas Prep. Find a class now! ### GMAT/MBA Expert Jeff@TargetTestPrep GMAT Instructor Joined 09 Apr 2015 Posted: 506 messages Followed by: 6 members Upvotes: 39 Top Reply Thu Dec 07, 2017 5:03 pm AbeNeedsAnswers wrote: On a vacation, Rose exchanged$500.00 for euros at an exchange rate of 0.80 euro per dollar and spent 3/4 of the euros she received. If she exchanged the remaining euros for dollars at an exchange rate of $1.20 per euro, what was the dollar amount she received? A)$60.00
B) $80.00 C)$100.00
D) $120.00 E)$140.00
We are given that Rose exchanged $500.00 for euros at an exchange rate of 0.80 euro per dollar. Since 1 dollar = 0.8 euros, 500 dollars = 500 x 0.8 = 400 euros. Since she spent spent 3/4 of her euros, she was left with 1/4 x 400 = 100 euros. Finally, she exchanged her remaining euros for dollars at a rate of 1.20 dollars per euro. Since 1 euro = 1.20 dollars, she ended up with 100 x 1.2 = 120 dollars. Answer: D _________________ Jeffrey Miller Head of GMAT Instruction ### GMAT/MBA Expert Matt@VeritasPrep GMAT Instructor Joined 12 Sep 2012 Posted: 2640 messages Followed by: 113 members Upvotes: 625 Target GMAT Score: V51 GMAT Score: 780 Wed Jul 05, 2017 12:46 am That said, here'd be my way. Rose got$500 * (4/5) => â‚¬400.

Rose spent (3/4) * â‚¬400 => â‚¬300.

Rose was left with â‚¬100, for which she recieved $(1.2 * 100), or$120.

This seems like an easy problem by the GMAT's standards, so if it's giving you a lot of trouble brush up on your computation. In my experience, most students are quite poor at computation when they start studying for the GMAT - even the students whose abstract reasoning is really impressive - but they're often able to (re)learn it very quickly.

Enroll in a Veritas Prep GMAT class completely for FREE. Wondering if a GMAT course is right for you? Attend the first class session of an actual GMAT course, either in-person or live online, and see for yourself why so many students choose to work with Veritas Prep. Find a class now!

### GMAT/MBA Expert

Jeff@TargetTestPrep GMAT Instructor
Joined
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Posted:
506 messages
Followed by:
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Thu Dec 07, 2017 5:03 pm
On a vacation, Rose exchanged $500.00 for euros at an exchange rate of 0.80 euro per dollar and spent 3/4 of the euros she received. If she exchanged the remaining euros for dollars at an exchange rate of$1.20 per euro, what was the dollar amount she received?

A) $60.00 B)$80.00
C) $100.00 D)$120.00
E) $140.00 We are given that Rose exchanged$500.00 for euros at an exchange rate of 0.80 euro per dollar. Since 1 dollar = 0.8 euros, 500 dollars = 500 x 0.8 = 400 euros.

Since she spent spent 3/4 of her euros, she was left with 1/4 x 400 = 100 euros.

Finally, she exchanged her remaining euros for dollars at a rate of 1.20 dollars per euro.

Since 1 euro = 1.20 dollars, she ended up with 100 x 1.2 = 120 dollars.

_________________
Jeffrey Miller Head of GMAT Instruction

### GMAT/MBA Expert

Matt@VeritasPrep GMAT Instructor
Joined
12 Sep 2012
Posted:
2640 messages
Followed by:
113 members
625
Target GMAT Score:
V51
GMAT Score:
780
Wed Jul 05, 2017 12:40 am
Define "fast". At some point it'll come down to how quickly you can do the calculations, and any time spent thinking of a way to avoid them is time that you might have been able to spend solving the problem.

Don't grow sick longing for the ideal - it's nice to have a clever way of solving a problem, but dreaming those up can waste precious time. Launch into a problem and you'll be surprised grinding away at it will spark some epiphany of a better way to do it.

Enroll in a Veritas Prep GMAT class completely for FREE. Wondering if a GMAT course is right for you? Attend the first class session of an actual GMAT course, either in-person or live online, and see for yourself why so many students choose to work with Veritas Prep. Find a class now!

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