1.12 A UK businessman working in a former Soviet republic discovers that he can buy a new car from a local factory for 500 000 units of local currency, soom. The official exchange rate is 120 soom to one US dollar, but in the bazaars he can get 180 to the dollar. What is the cost of the car in pounds sterling if one dollar is worth 65 pence

(a) if he changes money at the official rate?

(b) if he changes money in a bazaar?