Let's solve the given problem step by step.
1. Identify the given information:
- The company received USD 100,000.
- The bank's buying rate for 1 USD is 77.24 Kenyan Shillings (Ksh).
2. Understanding the bank's buying rate:
- The buying rate is the rate at which the bank buys foreign currency from customers. In this context, it means the bank will exchange 1 USD for 77.24 Ksh.
3. Calculate the amount of money in Kenyan Shillings:
- We need to convert the received amount in USD to Ksh.
- To do this, we multiply the number of US Dollars by the buying rate.
[tex]\[
\text{Amount in Ksh} = \text{Amount in USD} \times \text{Buying Rate}
\][/tex]
Plugging in the given values:
[tex]\[
\text{Amount in Ksh} = 100,000 \, \text{USD} \times 77.24 \, \text{Ksh per USD}
\][/tex]
4. Perform the multiplication:
- When we multiply these values, we get:
[tex]\[
100,000 \times 77.24 = 7,723,999.999999999 \, \text{Ksh}
\][/tex]
Therefore, the amount of money the Keovan company received in Kenyan Shillings is 7,723,999.999999999 Ksh.
