exchanged 1000 of US currency into 480000 Chilean Pesos Whil

exchanged $1000 of US currency into 480,000 Chilean Pesos. While returning after her two-month visit, she amount of gain or a loss did Karen experience on the 50,000 exchanged her remaining 50,000 Pesos into $100 of US currency What pesos she held during her visit and converted to US dollars at the departure date? Multiple Choice Gain ar sa Loss of $6 No goin or loss

Solution

Gain (loss) on conversion = 50000*((100/50000)-(1000/480000))= $(-4) Loss of $4 is the correct option