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A train ticket costs €30. How much would the ticket cost in Australian dollars, given

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. 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).

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A train ticket costs €30. How much would the ticket cost in Australian dollars, given

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  1. 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

  2. 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

  3. 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

  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

  5. 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.

  6. 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: F 0∙98 = $1 (÷0∙98) €0∙89 = $1 (÷0∙89) F 1 = $1∙02 (×81) €1 = $1·12359 (×72) F 81 = $82∙65 €72 = $80∙90 $82∙65 – $80∙90 = $1·75 cheaper if paid in euros

  7. 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

  8. 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) The Post Office are selling the Zloty to Pawel, so we use the “we sell” rate: €1 = 4∙21 zt (× 300) €300 = 1263 zt

  9. 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 Pawelrealises that he has mixed up his work schedule and is not in fact able to make the trip. 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? Give your answer to the nearest cent. (ii) 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) 1263 zt = €283∙82

  10. 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. Find the overall profit made by the Post Office on Pawel’s transactions. Give your answer to the nearest cent. (iii) 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.

  11. 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) The bank are selling the Pounds to Iman, so we use the “we sell” rate: €1 = £9∙89 (×800) €800 = £7912

  12. 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. How many euro will she receive for these pounds? (ii) 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

  13. 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) $1 = ¥111 (×150) $150 = ¥16,650

  14. 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? Give your answer to the nearest cent. (ii) P19∙8 = $1 (÷19∙8) P1 = $0∙050505 (×2370) P2370 = $119∙70

  15. 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 euro would you get for US$720? (iii) $1 = €0∙90 (×720) $720 = €648

  16. 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 23,000 Japanese Yen? Give your answer to the nearest cent. (iv) ¥115 = $1 (÷ 115) ¥1 = $0∙00869565 (×23,000) ¥23,000 = $200

  17. 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) 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

  18. 10. A bank in New York is offering foreign exchange rates, as shown in the table. Use this table to answer the following questions: 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. (iv) P 19∙8 = $1 (÷19∙8) P 1 = $0∙050505 (×32500) P 32500 = $1641∙41 $1 = $0∙68 (×1641∙41) $1641∙41 = £1116∙16 P32500 = £1116∙16

  19. 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

  20. 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%

  21. 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

  22. 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

  23. 15. 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. (i) 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

  24. 15. 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. (ii) $1∙20 = €1 (÷ 1∙2) $1 = €0∙83333 (× 690) $690 = €575 €744 – €575 = €169 profit

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