Currency Conversion and Rule of Three

The video tutorial explains the application of the rule of three in currency conversion, specifically converting dollars to reais. It provides a practical example where a person wants to convert $1000 into reais, given a specific exchange rate. The tutorial walks through the calculation process, demonstrating how to apply the rule of three to find the equivalent amount in reais. The video concludes by summarizing the importance of this method in financial contexts.

What is one of the applications of the Rule of Three mentioned in the video?

• Cooking recipes

• Converting currencies

• Calculating interest rates

• Measuring distances

If a person has $1000 and the exchange rate is 8/79, how many reais will they get?

• 790

• 870

• 1000

• 1790

What is the first step in converting dollars to reais using the Rule of Three?

• Finding the total amount in dollars

• Finding the exchange rate

• Setting up the proportion

• Calculating the final amount

What is the final amount in reais if the exchange rate is 8/79 and the person has $1000?

• 790

• 870

• 1790

• 1000

What type of Rule of Three is used in the example provided?

• Inverse

• Simple

• Direct

• Complex