Arithmetic Practice Questions and Currency Conversions
Practice questions involving currency conversions and arithmetic calculations are provided in the content. Various scenarios are presented, such as determining costs in different currencies, finding exchange rates, and comparing prices in different countries based on exchange rates. The questions require applying arithmetic operations to solve problems related to currency conversion and cost comparisons in different currencies.
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CHAPTER 08 Arithmetic I Solutions: Practice Questions 4
08 Practice Questions 4 1. A train ticket costs 30. How much would the ticket cost in Australian dollars, given 1 = $1 52 1 = $1 52 ( 30) 30 = $45 60
08 Practice Questions 4 2. A hotel room costs 125 Swiss Francs. How much would the hotel room cost in Canadian dollars, given 1 Swiss franc = $1 32. F1 = $1 32 ( 125) F125 = $165
08 Practice Questions 4 3. Given AUS $1 = 4 8 Chinese Yuan, find: The number of Chinese Yuan, equivalent to AUS $32. (i) $1 = 4 8 ( 32) $32 = 153 60 The number of Australian dollars, equivalent to 624 Chinese Yuan. (ii) 4 8 = $1 ( 4 8) 1 = $0 208333 ( 624) 624 = $130
08 Practice Questions 4 4. Whilst on holiday in London, Ciara bought a handbag for 64 sterling. In Dublin, an identical handbag costs 87 99. The exchange rate is 1 = 1 40. In which city was the handbag cheapest and by how much? Give your answer in euro, correct to the nearest cent. 1 = 1 40 ( 64) 64 = 89 60 in London 89 60 87 99 = 1 61 cheaper in Dublin
08 Practice Questions 4 5. A part for a machine costs 450 in France and the same part costs R 1,050 in South Africa. If 1 = R 2 35, in which country is it cheaper, and by how much (in euros)? R 2 35 = 1 ( 2 35) R 1 = 0 4255 ( 1050) R 1050 = 446 81 in South Africa 450 446 81 = 3 19 cheaper in South Africa.
08 Practice Questions 4 6. Todd buys a pair of shoes in Switzerland. He can pay either 81 Swiss Francs or 72 euro. The exchange rates are USD $1 = 0 98 Swiss Francs and USD $1 = 0 89. Which currency should he chose to pay in to get the best price, and how much would he save? Give your answer in US dollars. Convert 81 francs to dollars: Convert 72 euro to dollars: 0 89 = $1 ( 0 89) F 0 98 = $1 ( 0 98) F 1 = $1 02 ( 81) 1 = $1 12359 ( 72) 72 = $80 90 F 81 = $82 65 $82 65 $80 90 = $1 75 cheaper if paid in euros
08 Practice Questions 4 7. Given US$1 = 110 Japanese Yen and US$1 = 66 Russian Ruble. Find the exchange rate between the Japanese Yen and the Russian Ruble. $1 = 110 $1 = R 66 110 = R 66 ( 110) 1 = R 0 6
08 Practice Questions 4 8. Pawel is planning a trip from Dublin to Poland to visit some friends and family. He goes to the Post Office to exchange some euro into Polish Zloty. The exchange rate board is as follows and there is 0% commission on the transactions. Pawel exchanges 300 into Zloty. How many Zloty does he receive? (i) We buy 4 45 We sell 4 21 Polish Zloty The Post Office are selling the Zloty to Pawel, so we use the we sell rate: 1 = 4 21 zt ( 300) 300 = 1263 zt
08 Practice Questions 4 8. Pawel is planning a trip from Dublin to Poland to visit some friends and family. He goes to the Post Office to exchange some euro into Polish Zloty. The exchange rate board is as follows and there is 0% commission on the transactions. That evening Pawel realises that he has mixed up his work schedule and is not in fact able to make the trip. (ii) We buy 4 45 We sell 4 21 Polish Zloty He returns to the Post Office the next day to exchange the Zloty back into euro. Given that the rates have not changed, how much euro does Pawel receive? The Post Office are buying the Zloty from Pawel, so we use the we buy rate: 4 45 zt = 1 ( 4 45) 1 zt = 0 2247 ( 1263) Give your answer to the nearest cent. 1263 zt = 283 82
08 Practice Questions 4 8. Pawel is planning a trip from Dublin to Poland to visit some friends and family. He goes to the Post Office to exchange some euro into Polish Zloty. The exchange rate board is as follows and there is 0% commission on the transactions. (iii) Find the overall profit made by the Post Office on Pawel s transactions. We buy 4 45 We sell 4 21 Polish Zloty Give your answer to the nearest cent. Pawel paid the Post Office 300 for the Zloty Then the Post Office bought the Zloty back for 283 82 300 283 82 = 16 18 profit.
08 Practice Questions 4 9. Iman is travelling to Egypt from France. She goes to a bank and sees the following on the exchange rate board: How many Egyptian Pounds will Iman get for 800? (i) We buy 10 25 We sell 9 89 Egyptian Pounds The bank are selling the Pounds to Iman, so we use the we sell rate: 1 = 9 89 ( 800) 800 = 7912
08 Practice Questions 4 9. Iman is travelling to Egypt from France. She goes to a bank and sees the following on the exchange rate board: On her return to France, Iman has 580 Egyptian pounds. (ii) We buy 10 25 We sell 9 89 Egyptian Pounds How many euro will she receive for these pounds? The bank are buying the Pounds from Iman, so we use the we buy rate: 10 25 = 1 ( 10 25) 1 = 0 09756 ( 580) 580 = 56 59
08 Practice Questions 4 10. A bank in New York is offering foreign exchange rates, as shown in the table. Use this table to answer the following questions: How many Japanese Yen would you get for US$150? (i) Currency British Pound Euro Canadian dollar Mexican peso Japanese Yen We buy 0 73 0 96 1 42 19 8 115 We sell 0 68 0 90 0 30 18 49 111 $1 = 111 ( 150) $150 = 16,650
08 Practice Questions 4 10. A bank in New York is offering foreign exchange rates, as shown in the table. Use this table to answer the following questions: How many US dollars would you get for 2,370 Mexican peso? (ii) Currency British Pound Euro Canadian dollar Mexican peso Japanese Yen We buy 0 73 0 96 1 42 19 8 115 We sell 0 68 0 90 0 30 18 49 111 Give your answer to the nearest cent. P19 8 = $1 ( 19 8) P1 = $0 050505 ( 2370) P2370 = $119 70
08 Practice Questions 4 10. A bank in New York is offering foreign exchange rates, as shown in the table. Use this table to answer the following questions: (iii) How many euro would you get for US$720? Currency British Pound Euro Canadian dollar Mexican peso Japanese Yen We buy 0 73 0 96 1 42 19 8 115 We sell 0 68 0 90 0 30 18 49 111 $1 = 0 90 ( 720) $720 = 648
08 Practice Questions 4 10. A bank in New York is offering foreign exchange rates, as shown in the table. Use this table to answer the following questions: (iv) How many US dollars would you get for 23,000 Japanese Yen? Currency British Pound Euro Canadian dollar Mexican peso Japanese Yen We buy 0 73 0 96 1 42 19 8 115 We sell 0 68 0 90 0 30 18 49 111 Give your answer to the nearest cent. 115 = $1 ( 115) 1 = $0 00869565 ( 23,000) 23,000 = $200
08 Practice Questions 4 10. A bank in New York is offering foreign exchange rates, as shown in the table. Use this table to answer the following questions: Diane is given $300 Canadian dollars as a gift. She is planning a trip to Japan. How many Japanese Yen can she get, at this bank, for the CD $300? (v) Currency British Pound Euro Canadian dollar Mexican peso Japanese Yen We buy 0 73 0 96 1 42 19 8 115 We sell 0 68 0 90 0 30 18 49 111 C$1 42 = US $1 ( 1 42) C$1 = US $0 704225 ( 300) C$300 = US $211 27 $1 = 111 ( 211 27) C$300 = 23,450 70
08 Practice Questions 4 10. A bank in New York is offering foreign exchange rates, as shown in the table. Use this table to answer the following questions: (iv) Matthew is travelling from Cancun, Mexico to London. He stops off in New York for a few hours and goes into this bank to change 32,500 Mexican Peso into British pounds. How many British pounds does he get? Give your answer to the nearest penny. Currency British Pound Euro P 19 8 = $1 ( 19 8) We buy 0 73 0 96 1 42 We sell 0 68 0 90 0 30 P 1 = $0 050505 ( 32500) P 32500 = $1641 41 Canadian dollar Mexican peso Japanese Yen $1 = $0 68 ( 1641 41) $1641 41 = 1116 16 19 8 115 18 49 111 P32500 = 1116 16
08 Practice Questions 4 11. When the exchange rate is 1 = $1 22, a person buys $2,013 from a bank. If the bank charges a commission of 4%, calculate the total cost in euros. $1 22 = 1 ( 1 22) $1 = 0 81967 ( 2013) $2013 = 1650 Add on 4% commission: 1650 1 04 = 1716
08 Practice Questions 4 12. Chan wants to change some Hong Kong Dollars (HKD) into US Dollars (USD). The exchange rate is 1 HKD = 0 13 USD. The bank charges 2% commission. How many US Dollars will Chan receive if he pays 2,448 HKD, including the commission? 2448 HKD = 102% ( 102) 1 HKD = $0 13 ( 2400) 24 HKD = 1% ( 100) 2400 HKD = $312 2400 HKD = 100%
08 Practice Questions 4 13. Toby is travelling from Mexico to Canada. The bureau de change at the airport is selling Canadian dollars at a rate of 1 peso = $0 071 Canadian dollars. Toby needs $935. If he pays 13,564 pesos for the complete transaction, find the percentage commission he paid to the bureau de change. Give your answer to the nearest percent. $0 071 = mex$1 ( 0 071) Commission = 13564 13169 $1 = mex$14 0845 ( 935) = 395 pesos $935 = mex$13,169 charge original 395 13169 = = % charge 100 100 =2 999 =3%
08 Practice Questions 4 14. Ken returns to Australia, from a holiday in Thailand, with 2,496 Thai Baht. The bank offers an exchange rate of $1 = 26 Thai Baht. They also charge a percentage commission on the transaction. If Ken receives $93 60, find the percentage commission charged by the bank. B 26 = $1 ( 26) B 1 = $ 0 038464 ( 2496) B 2496 = $96 $96 $93 60 = $2 40 charge charge original 100 % charge = 2 40 96 = = 2 5% 100
08 Practice Questions 4 15. (i) Chris owns a music shop. He imports 100 drum sets from America for US$69,000 in total. Given the current exchange rate is 1 = US$1 15, find the price at which he must sell each drum set in Ireland, if he is to apply a 24% mark-up. 100 drum sets = $69 000 ( 100) 1 drum set = $690 Find cost price in euro: $1 15 = 1 ( 1 15) $1 = 0 869565 ( 690) $690 = 600 Find selling price after 24% mark-up: 600 1 24 = 744 each
08 Practice Questions 4 15. (ii) Four months later the exchange rate is 1 = US$1 20. If Chris buys some more drums for the same price of US$690 each and sells them for the same price as in part (i), what is the percentage mark-up on the sales? Give your answer to one decimal place. $1 20 = 1 ( 1 2) $1 = 0 83333 ( 690) $690 = 575 744 575 = 169 profit Mark-up=Profit 100 Cost =169 575 100 =29 3913 29 4%
