• Award-winning private GMAT tutoring
Register now and save up to $200 Available with Beat the GMAT members only code • Reach higher with Artificial Intelligence. Guaranteed Now free for 30 days Available with Beat the GMAT members only code • 5 Day FREE Trial Study Smarter, Not Harder 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 • Free Trial & Practice Exam BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • Magoosh Study with Magoosh GMAT prep Available with Beat the GMAT members only code • Get 300+ Practice Questions 25 Video lessons and 6 Webinars for FREE 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 • 5-Day Free Trial 5-day free, full-access trial TTP Quant Available with Beat the GMAT members only code • 1 Hour Free BEAT THE GMAT EXCLUSIVE 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: 192 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

### GMAT/MBA Expert

Jeff@TargetTestPrep GMAT Instructor
Joined
09 Apr 2015
Posted:
887 messages
Followed by:
12 members
39
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:
2637 messages
Followed by:
114 members
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 Rich.C@EMPOWERgmat.com Elite Legendary Member Joined 23 Jun 2013 Posted: 9312 messages Followed by: 478 members Upvotes: 2867 GMAT Score: 800 Sun Jul 02, 2017 8:22 pm Hi AbeNeedsAnswers, Certain Quant questions on the GMAT are just about doing a few math steps - but there are often math 'shortcuts' that you can take advantage of to cut down on the time it takes to complete those steps. To start, we're told that Rose exchanged$500 for Euros at a rate of .8 Euros/dollar. Since .8 of 100 = 80, we know that .8 of 500 = (5)(80) = 400 Euros.

Next, we're told she spent 3/4 of the Euros she received. (3/4) of 400 can be solved either by "multiplying by 3 and then dividing by 4" OR by "dividing by 4 then multiply by 3." Using the second method, we'd have.... 400/4 = 100.... 100(3) = 300 Euros spent.

This leaves Rose with 400 - 300 = 100 Euros.

Lastly, we know that she exchanged her remaining Euros at $1.20 per Euro.... (100)($1.20) = $120 Final Answer: D GMAT assassins aren't born, they're made, Rich _________________ Contact Rich at Rich.C@empowergmat.com ### GMAT/MBA Expert Jay@ManhattanReview GMAT Instructor Joined 22 Aug 2016 Posted: 1026 messages Followed by: 22 members Upvotes: 470 Tue Jul 04, 2017 11:09 pm AbeNeedsAnswers wrote: 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

You have been posting many questions with a standard query, Is there a fast way to work through this question?

It would be better if you post your working. This way one can tell you where you may have been wasting your time.

As far as this question is concerned, it asks for the application of series of easy calculations:

1. Convert (Do MULTIPLICATION): $500 x 0.60 = Euro 400 2. Find the amount spent (Do MULTIPLICATION of an integer with a fraction): 400 x (3/4) = Euro 300 3. Find balance (Do SUBTRACTION): Euro 400 - Euro 300 = Euro 100 4. Convert (Do MULTIPLICATION): Euro 100 x 1.20 =$120

Hope this helps!

-Jay
_________________
Manhattan Review GMAT Prep

Locations: New York | Vienna | Kuala Lumpur | Sydney | and many more...

### GMAT/MBA Expert

Matt@VeritasPrep GMAT Instructor
Joined
12 Sep 2012
Posted:
2637 messages
Followed by:
114 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!

### Best Conversation Starters

1 lheiannie07 80 topics
2 LUANDATO 62 topics
3 ardz24 52 topics
4 AAPL 47 topics
5 Roland2rule 43 topics
See More Top Beat The GMAT Members...

### Most Active Experts

1 Jeff@TargetTestPrep

Target Test Prep

134 posts
2 Brent@GMATPrepNow

GMAT Prep Now Teacher

131 posts
3 GMATGuruNY

The Princeton Review Teacher

130 posts
4 Rich.C@EMPOWERgma...

EMPOWERgmat

128 posts
5 Scott@TargetTestPrep

Target Test Prep

110 posts
See More Top Beat The GMAT Experts