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4. A tourist tendered US$ 1,500 at a shop on the North Coast to pay for Jamaican memorabilia which cost $115,000. Given that the exchange
4. A tourist tendered US$ 1,500 at a shop on the North Coast to pay for Jamaican memorabilia which cost $115,000. Given that the exchange rate is: Selling US$1 = J$127.65 and buying US$1 = J$121.32; (a) how much change in J$ should the tourist receive? (5 marks] (b) If GCT of 16.5% was charged on the goods, what would the total cost be? [2 marks] (c) If the tourist was using Canadian currency to pay the $115,000, at an exchange rate of: selling CAD$1 = J$120.90, buying CAD$1 = J$116.82, how much Canadian dollars would it costs? [3 marks]
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