The table shows the amount of foreign currency that is given for \(1\) dollar. Currency Amount for \(1\) dollar Euro \(0.93\) Pound \(0.79\) Yen \(148\) Ran...
Question 1 Report
The table shows the amount of foreign currency that is given for \(1\) dollar.
| Currency | Amount for \(1\) dollar |
|---|---|
| Euro | \(0.93\) |
| Pound | \(0.79\) |
| Yen | \(148\) |
| Rand | \(18.6\) |
(a) Change \(\$340\) into pounds. [2]
(b) Change \(5550\) yen into dollars. [2]
Answer Details
The table is read as: \(1\) dollar buys \(0.79\) pounds, \(148\) yen, \(0.93\) euros or \(18.6\) rand. That single fact decides both parts. Going from dollars into a foreign currency you multiply by the rate; coming back from a foreign currency into dollars you divide by the rate.
(a) Dollars to pounds, so multiply by \(0.79\):
\[ 340\times 0.79 \] [M1]
\[ =268.6 \]
\(\$340\) is \(268.60\) pounds. [A1] Money is written to two decimal places, so \(268.60\) rather than \(268.6\).
(b) Yen to dollars, so divide by \(148\):
\[ 5550\div 148 \] [M1]
\[ =37.5 \]
\(5550\) yen is \(\$37.50\). [A1]
If you are unsure which way round to go, sanity-check the size of the answer. Since one dollar is worth \(148\) yen, a few thousand yen must be only a few tens of dollars, so the answer has to be much smaller than \(5550\). Multiplying would have given \(821\,400\), which is clearly wrong.
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