Exchange Rates: Practise Online

Calculator 2 marks

The exchange rate is £1 = $1.35.

Anya changes £40 into US dollars before a trip to the USA.

Calculate how many US dollars she gets.
Your answer (just for you: it is never sent anywhere)
Show answer
$\text{\$}54.00$
Pounds into US dollars, so multiply by the rate:

$40 \times 1.35 = 54.00$

Anya gets $54.00.
- M1multiply the pounds by the rate: $40 \times 1.35$
- A1amount $54.00$
Calculator 2 marks

Rosa comes home from Spain with €569.25 left over.

The exchange rate is £1 = €1.15.

Work out how much she gets when the money is changed back into pounds.
Your answer (just for you: it is never sent anywhere)
Show answer
$\text{£}495$
euros into pounds, so divide by the rate:

$569.25 \div 1.15 = 495$

Rosa gets £495.
- M1divide by the rate, $569.25 \div 1.15$
- A1amount in pounds $495$
Either paper 4 marks

A bureau de change uses this graph to change money between pounds and euros.

(a)
Use the graph to change £40 into euros.

(b)
Use the graph to change €22 into pounds.
Your answer (just for you: it is never sent anywhere)
Show answer
(a) $\text{€}44$
(b) $\text{£}20$
Find $40$ on the pounds axis, go up to the line, then across.

Both axes are numbered every $10$ and ruled every $2$ in between, so the reading lands on a line: $44$.

As a check, the graph changes £$10$ into €$11$, and $40 \div 10 \times 11 = 44$.
Start on the euros axis. Find $22$, go across to the line, then straight down to the pounds axis.

$22 \div 11 \times 10 = 20$

So €$22$ is worth £$20$.
- (a) M1method for the conversion, e.g. reading up from $40$ to the line or $40 \div 10 \times 11$
- (a) A1$44$ euros
- (b) M1method for the conversion, e.g. reading across from $22$ to the line or $22 \div 11 \times 10$
- (b) A1$20$ pounds
Calculator 4 marks

Joel is going on holiday to Toronto.

The exchange rate is £1 = C$1.70.

(a)
He changes £900 into Canadian dollars.

Calculate how many Canadian dollars he receives.

(b)
On holiday Joel spends C$1411.00.

He changes what is left back into pounds at the same rate.

Calculate how much he gets back.
Your answer (just for you: it is never sent anywhere)
Show answer
(a) $\text{C\$}1530.00$
(b) $\text{£}70$
$900 \times 1.70 = 1530.00$

He receives C$1530.00.
Money left: $1530.00 - 1411.00 = 119.00$

Change it back by dividing by the rate:

$119.00 \div 1.70 = 70$

He gets £70 back.
- (a) M1multiplies by the rate $1.70$
- (a) A1$1530.00$ Canadian dollars
- (b) M1money left after spending $119.00$
- (b) A1divides by $1.70$ to get £70
Calculator 3 marks

One day the exchange rates are:

£1 = €1.19

£1 = C$1.73

Anya changes €333.20 into Canadian dollars.

Calculate how many Canadian dollars she gets.
Your answer (just for you: it is never sent anywhere)
Show answer
$\text{C\$}484.40$
There is no direct rate, so go through pounds.

Euros into pounds: $333.20 \div 1.19 = 280$, so £280.

Pounds into Canadian dollars: $280 \times 1.73 = 484.40$

Anya gets C$484.40.
- M1change to pounds by dividing by the rate, $333.20 \div 1.19$
- M1change pounds $280$ to Canadian dollars by multiplying by the rate, $280 \times 1.73$
- A1amount $484.40$
Either paper 4 marks

The graph changes money between pounds and euros.

Both axes are numbered every $10$ and ruled every $2$ in between. Not every reading lands on a gridline.

(a)
Use the graph to change £45 into euros.

(b)
Use the graph to change €33 into pounds.
Your answer (just for you: it is never sent anywhere)
Show answer
(a) $\text{€}55$
(b) $\text{£}27$
Go up from $45$ on the pounds axis to the line, then across to the euros axis. The reading lands halfway between two gridlines.

The gridlines either side are $54$ and $56$, and halfway between them is

$\frac{ 54 + 56 }{2} = 55$

So £$45$ is €$55$.
Find $33$ on the euros axis, go across to the line, then straight down.

The reading falls halfway between $26$ and $28$ on the pounds axis:

$\frac{ 26 + 28 }{2} = 27$

So €$33$ is worth £$27$.
- (a) M1reading between the gridlines $54$ and $56$ on the euros axis
- (a) A1$55$ euros
- (b) M1reading between the gridlines $26$ and $28$ on the pounds axis
- (b) A1$27$ pounds
Calculator 4 marks

A winter coat costs £62.00 in a UK shop.

The same winter coat costs €84 in a shop in Spain.

The exchange rate is £1 = €1.21.

Which shop is cheaper, and by how much? Give the difference in pounds, to the nearest penny.
Your answer (just for you: it is never sent anywhere)
Show answer
The UK shop is cheaper, by £7.42 (£69.42 in Spain against £62.00 in the UK)
Change the euros price into pounds, so divide by the rate:

$84 \div 1.21 = 69.42$

So the shop in Spain charges £69.42, against £62.00 in the UK.

Difference: £7.42

The UK shop is cheaper, by £7.42.
- M1divides €84 by 1.21 to change it into pounds
- A1converted price £69.42
- M1compares in pounds: £62.00 against £69.42, difference £7.42
- A1the UK shop is cheaper
Calculator 3 marks

Priya changes £428 into US dollars before a trip to the USA and gets $573.52.

(a)
Work out the exchange rate.

£1 = US dollars ...

(b)
Priya comes home with $527.96 left over and changes it back into pounds at the same rate.

Calculate how much she gets.
Your answer (just for you: it is never sent anywhere)
Show answer
(a) $£1 = \text{\$}1.34$
(b) $\text{£}394$
The rate is the foreign money for £1, so divide by the pounds:

$573.52 \div 428 = 1.34$

£1 = $1.34
US dollars into pounds, so divide by the rate from part (a):

$527.96 \div 1.34 = 394$

Priya gets £394.
- (b) M1divide by the rate, $527.96 \div 1.34$
- (b) A1amount in pounds $394$
Calculator 5 marks

Isla wants to change £405 into euros.

Bureau B offers £1 = €1.12 and charges no fee.

Bureau A offers £1 = €1.22 but charges a fixed fee of £36, taken from the pounds before they are changed.

Which bureau gives Isla more euros, and how many more euros does she get?
Your answer (just for you: it is never sent anywhere)
Show answer
Bureau B, by €3.42
The fee is taken from the pounds first.

Bureau A: $£405 - £36 = £369$

Change the remaining pounds: $369 \times 1.22 = €450.18$

Bureau B: $405 \times 1.12 = €453.60$

Compare the two amounts: $€450.18$ from Bureau A and $€453.60$ from Bureau B, a difference of $€3.42$.

Bureau B gives Isla more euros, by $€3.42$.
- M1fee taken from the pounds: £405 - £36 = £369
- M1Bureau A: £369 changed at 1.22 gives €450.18
- M1Bureau B: £405 changed at 1.12 gives €453.60
- A1difference between the two amounts, €3.42
- A1Bureau B gives more euros
Calculator 2 marks

The exchange rate is £1 = €1.21.

Priya changes £810 into euros before a trip to Spain.

Work out how many euros she gets.
Your answer (just for you: it is never sent anywhere)
Show answer
$\text{€}980.10$
Pounds into euros, so multiply by the rate:

$810 \times 1.21 = 980.10$

Priya gets €980.10.
- M1multiply the pounds by the rate: $810 \times 1.21$
- A1amount $980.10$