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A quick maths Question

by Quentin
11 replies
Today the exchange rate for one US dollar is 30.33 Baht

The exchange rate for 1 English pound is 45.56 Baht

However last week when I sent the money 1 US dollar was 29.5187

So what will be the rate for the English Pound for last week?

Can you provide the formula?

Quentin
#maths #question #quick
  • Profile picture of the author David Bryant
    There isn't a formula for what you are asking. All of the currencies are different.

    You can't match up the dollar today per baht, and find the value of the pound per baht.

    I hope you understand what I mean. I understand your question, and if you wanted to find an answer with like values, you would simply use a ratio to calculate it out, but you are using two completely different currencies that you can't compare to each other as if they were constant.
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  • Profile picture of the author Quentin
    Thanks David

    I am not looking for an exact rate and maybe I should have not said currency.

    I am just looking at how to get the ratio between the two. We received some money from the UK for our children's home here in Thailand and need to work out the fees we were charged to tell the receiver however the fees were obviously in Pounds and I need it in Baht.

    As it comes in through Paypal they convert to us dollars and then when we withdraw they convert to Thai Baht.

    Te rate when it came in was one amount however today when I with drew it was another amount.

    Surely there is a way I can do it with percentages or something like that.

    Quentin
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    • Profile picture of the author David Bryant
      Originally Posted by Quentin View Post

      Thanks David

      I am not looking for an exact rate and maybe I should have not said currency.

      I am just looking at how to get the ratio between the two. We received some money from the UK for our children's home here in Thailand and need to work out the fees we were charged to tell the receiver however the fees were obviously in Pounds and I need it in Baht.

      As it comes in through Paypal they convert to us dollars and then when we withdraw they convert to Thai Baht.

      Te rate when it came in was one amount however today when I with drew it was another amount.

      Surely there is a way I can do it with percentages or something like that.

      Quentin
      The answer that you are looking for then is 44.3413

      This is how I arrived at it...

      29.5187 / 30.33 X 100 = percentage of difference which is 97.3250

      45.56 - 97.3250 % = 44.3413

      or

      29.5187........X
      -------- = ------
      30.33.........45.56

      (forget the dots, can't use space without html) Cross multiply both sides, then divide both sides by 30.33 to find X... which will give you the same number X = 44.3413

      Hope that helps, and you're welcome.
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      • Profile picture of the author Old Dog New Tricks
        Originally Posted by David Bryant View Post

        The answer that you are looking for then is 44.3413 Baht

        This is how I arrived at it...

        29.5187 / 30.33 X 100 = percentage of difference which is 97.3250

        46.56 - 97.3250 % = 44.3413

        Hope that helps, and you're welcome.
        Wow you're fast. To be exact it is 44.341311308935 out a few more places. Another way is to make a simple algebra problem and cross multiply.


        30.33 29.5187 1344.871972
        = 30.33X = 1344.871972 X= X=43.341
        45.56 X 30.33



        Just nit-pickin. However David is right you can't figure accurately unless you know the relative relation ship between the Dollar and the Pound. And I'm not sure that's enough info. I have a "head-ache"

        Look what word wrap did when I published! I hate that...At least it wasn't a web page I spent two hours on! lol
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        P.S. If I can be of any assistance in your "Off" or "On"- line sales and marketing please PM me or email at WinnersChoice-Warrior@yahoo.com . Old Dog

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  • Profile picture of the author Quentin
    Hmmm I got 44.3449

    So a little unsure. Maybe the dangle was a little off

    Q
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  • Profile picture of the author CDarklock
    Originally Posted by Quentin View Post

    Today the exchange rate for one US dollar is 30.33 Baht

    The exchange rate for 1 English pound is 45.56 Baht
    So the English pound was trading for 1.5 US dollars today.

    X = 30.33 Y

    Z = 45.56 Y

    Z > X, so for simplicity, we calculate Z / X to get a number > 1

    Z / X = 45.56 Y / 30.33 Y
    Z / X = 45.56 / 30.33 * Y / Y
    Z / X = 45.56 / 30.33
    Z / X = 1.50

    However last week when I sent the money 1 US dollar was 29.5187

    So what will be the rate for the English Pound for last week?
    29.5187 times the number of US dollars an English pound is worth.

    You need the rates of each currency to a common intermediary currency. If you only know one exchange rate, or there are no common intermediates, you can't determine another one.
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    "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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  • Profile picture of the author Quentin
    Wow thanks to you all.

    43.341 seems to be the one

    Quentin
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    • Profile picture of the author David Bryant
      Originally Posted by Quentin View Post

      Wow thanks to you all.

      43.341 seems to be the one

      Quentin
      It is 44.341

      Use the ratio that I showed you to make things less complicated. It's easy to mess up a value on a calculator when multiplying and dividing, using percent, and subtraction to calculate using percentages.

      In a ratio, you just cross multiply once and divide each side to find X.
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  • Profile picture of the author Quentin
    Thank you so much David.

    That is what I used 44.341 and worked perfectly

    Sorry made a mistake before.

    Q
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