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Ethan had planned to visit his local post office on Saturday to exchange £400
for euros. The exchange rate for that day was £1 = 1.25 €
However, due to unforseen circumstances, Ethan arrived at the post office after
it closed on that day. He therefore had to wait until the following Monday to
exchange his £400 for euros. The exchange rate on Monday was £1 = 1.20 €
a) How many fewer euros did he receive due to this delay? 20 fewer euros
b) What percentage loss was caused by this delay?