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3.1 Before the Dubes left South Africa, they exchanged R50 000 for USD - NSC Tourism - Question 3 - 2021
Question 3
3.1 Before the Dubes left South Africa, they exchanged R50 000 for USD. Calculate the amount the Dubes received in USD. 3.1.2 When the Dubes returned to South Afri... show full transcript
Worked Solution & Example Answer:3.1 Before the Dubes left South Africa, they exchanged R50 000 for USD - NSC Tourism - Question 3 - 2021
Step 1
Calculate the amount the Dubes received in USD.
Answer
To calculate the amount received in USD from R50 000, we will use the exchange rate provided: R17.65 per USD.
Using the formula:
ext{USD} = rac{ ext{ZAR}}{ ext{Exchange Rate}} = rac{50000}{17.65} ext{USD}This results in approximately $2,832.86 USD.
Step 2
Step 3
Explain TWO challenges most tourists would have experienced in exchanging their left-over foreign currency notes when they returned to South Africa.
Answer
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Inaccessibility of Forex Services: Tourists may have encountered difficulties as they were unable to use any Forex services at the airport due to the lockdown. This lack of access would make it challenging to exchange their leftover foreign currency for South African Rand.
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Quarantine Restrictions: During the period of quarantine, it was nearly impossible to exchange currency, even for those who urgently needed cash. This added a significant layer of difficulty in managing their finances upon return.