The Tan family bought a furniture, priced at 0.3 million JPY, from a furniture maker in Japan last year in June 2020 from an online store. The boxes in the conversion chart show the conversion of 1 Japanese yen (JPY) to Singapore dollar (SGD) on June 2020 and 2021. (1 million = $10^6$)

1. Convert the furniture price from millions of JPY to JPY.

$0.3$ million JPY $= 0.3 \times 10^6 = 300\,000$ JPY

2. Use the June 2020 exchange rate to convert JPY to SGD.

Since JPY1000 $=$ SGD13.0374,

$300\,000\text{ JPY} = \frac{300\,000}{1000} \times 13.0374 = 300 \times 13.0374 = 3911.22$

1. Find the increased furniture price in JPY in 2021.

From part (a), the original price was $0.3$ million JPY:

$0.3\times 10^6=300\,000$ JPY

After a $2\%$ increase,

$300\,000\times 1.02=306\,000$ JPY

2. Convert the 2021 increased price from JPY to SGD using the June 2021 exchange rate.

June 2021 exchange rate: JPY $1000 =$ SGD $12.1865$

$306\,000\div 1000\times 12.1865=306\times 12.1865=3729.069$

So the 2021 cost would be SGD $3729.069$.

3. Find the amount saved compared with buying in June 2020.

Cost in June 2020 from part (a) $=$ SGD $3911.22$

Savings:

$3911.22-3729.069=182.151$

Rounded to the nearest cent, the amount saved is SGD $182.15$.