Currency Exchange Calculations and Comparison
Learn about currency exchange rates through various scenarios involving the conversion of different currencies like sterling, dollars, Australian dollars, Japanese yen, pounds, and euros. Explore how much currency you can get for a certain amount in each scenario and compare the values to determine the better option. Enhance your understanding of currency conversions and their implications.
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21 Currency Exchange A bank sells sterling at a rate of 1 = 0.82. Mark is travelling to London and wants to convert 900. How much sterling will he get? Arrange the exchange rate to have the currency you are looking for on the right-hand side 1 = 0.82 900 = 0.82 900 = 738 Ali returns from the USA and has $1,100. A bank buys dollars at a rate of 1 = $1.38. How much will he get in euro? Arrange the exchange rate to have the currency you are looking for on the right-hand side 1 = $1.38 $1.38 = 1 $1 = 1 1.38 $1,100 = ( 1 1.38) 1,100 = 797.10145 = 797.10 1 ACTIVE MATHS 1
21 Currency Exchange If 1 = $1.42 (Australian dollar), 1 = 111.87 (Japanese yen) and 1 = 0.87: (a) How many Australian dollars would you get for 60? (b) How many Japanese yen would you get for 150? (c) How many pounds would you get for 50? (d) How many euro would you get for 67,122? (e) How many euro would you get for $106.50? (f) Are you better off if you have 44,748 or 347? (a) How many Australian dollars would you get for 60? 1 = $1.42 60 = $1.42 60 60 = $85.20 (b) How many Japanese yen would you get for 150? 1 = 111.87 150 = 111.87 150 150 = 16,780.50 2 ACTIVE MATHS 1
21 Currency Exchange 1 = $1.42 (Australian dollar), 1 = 111.87 (Japanese yen) and 1 = 0.87: (c) How many pounds would you get for 50? 1 = 0.87 50 = 0.87 50 50 = 43.50 (d) How many euro would you get for 67,122? 1 = 111.87 111.87 = 1 1 = 1 111.87 67,122 = ( 1 111.87) 67,122 67,122 = 600 (e) How many euro would you get for $106.50? 1 = $1.42 $1.42 = 1 $1 = 1 1.42 $106.50 = ( 1 1.42) 106.50 $106.50 = 75 3 ACTIVE MATHS 1
21 Currency Exchange 1 = $1.42 (Australian dollar), 1 = 111.87 (Japanese yen) and 1 = 0.87: (f) Are you better off if you have 44,748 or 347? Change both currencies into euro to compare them. 1 = 111.87 1 = 0.87 111.87 = 1 1 = 1 111.87 44,748 = ( 1 111.87) 44,748 0.87 = 1 1 = 1 0.87 347 = ( 1 0.87) 347 44,748 = 400 347 = 398.85 You are better off by 1.15 if you have 44,748. 4 ACTIVE MATHS 1
