Steply

$1 = €0.92. Change $65 to euros.

Step by step, with the reason for every step · Exchange rates · Foundations

Step by step

The question

Question: change $65 to euros, when $1 = €0.92.

$1 = €0.92. Change $65 to euros.

1 Write the rate

The rate says: 1 dollar is worth 0.92 euros.

$1 = €0.92

From dollars to euros, we multiply by 0.92.

Going back, we divide by 0.92.

dollars → euros: × 0.92
euros → dollars: ÷ 0.92

2 Multiply by the rate

Each dollar is worth €0.92.

65 dollars are worth 65 times as much.

$65 = 65 × €0.92

65 times 0.92 is €59.80.

= €59.80

To multiply decimals: first 65 times 92, as whole numbers.

That is 5980.

Then count the decimal places: 2.

65 × 92 = 5980
2 decimal places: 59.8

Careful!

Check the direction.

Dollars to euros: we multiply by the rate.

Careful: dollars → euros: × the rate

So $65 is €59.80.

3 Check

Let's check: change the answer back.

€59.80 divided by 0.92 is $65.

change it back: €59.80 ÷ 0.92 = 65

That is what we started with.

So the answer is right!

$65 — what we started with

Let's look back.

First: write the rate.

Then: multiply by the rate.

Last: check.

Answer
Careful: dollars → euros: × the rate

Your turn

Try this one yourself, then check:

$1 = €0.80. Change $70 to euros.
Show the answer
$70 = €56

More from Exchange rates

The whole lesson: Exchange rates →