Question $1($Show your workings$)$

a$.$

Kevin has a business trip to London. Before he left, he went to a bank to convert RM$10,000$ to British pound sterling $().$ The buying and selling rate during that time were quoted as follows:

Table $1$

Buy rate Sell rate

$5\mathrm{.}8125\mathrm{.}820$

He spent $1500,$ and upon his return to work, he converted the remaining balance from pounds to ringgit. Calculate the amount of money he received and the amount he spent in ringgit. $($Round to $1$ dollar and $1$ ringgit$)(8$ Marks$)$

b$.$ A currency trader has observed that the spot rate of the following currencies as follows:

EUR$/$GBP $=1\mathrm{.}14$ CAD$/$GBP $=1\mathrm{.}71$

MYR$/$CAD $=3\mathrm{.}41$

Determine the current spot rate for the MYR$/$EUR$.(6$ Marks$)$

$($Total: $14$ Marks$)$