1. **Problem statement:**
Convert the price of a phone case from yen to dollars, apply a tariff, and calculate the percentage profit.
2. **Given:**
Exchange rate: $1 = 7.17$ yen
Price per phone case: 28 yen
Tariff: 15%
Selling price in US market: 6.45 dollars
3. **Part (a): Convert price to dollars**
Formula: $\text{Price in dollars} = \frac{\text{Price in yen}}{\text{Exchange rate}}$
Calculate:
$$\text{Price in dollars} = \frac{28}{7.17}$$
Intermediate step with cancellation:
$$\frac{\cancel{28}}{\cancel{7.17}} = 3.9047...$$
Rounded to nearest cent:
$$3.90$$
4. **Part (b): Apply 15% tariff**
Formula: $\text{Total cost} = \text{Price in dollars} \times (1 + \text{tariff rate})$
Calculate:
$$3.90 \times (1 + 0.15) = 3.90 \times 1.15 = 4.485$$
Rounded to nearest cent:
$$4.49$$
5. **Part (c): Calculate percentage profit**
Formula: $\text{Profit percentage} = \frac{\text{Selling price} - \text{Cost price}}{\text{Cost price}} \times 100$
Calculate:
$$\frac{6.45 - 4.49}{4.49} \times 100 = \frac{1.96}{4.49} \times 100 = 43.65\%$$
Rounded to nearest whole number:
$$44\%$$
**Final answers:**
(a) $3.90$ dollars
(b) $4.49$ dollars
(c) $44\%$ profit
Currency Conversion A9Ee33
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