Exchange Rates - Worksheets, Questions and Revision

18 original exam-style questions - 7 pages of questions with a full mark scheme - free printable PDF.

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GCSE · Ratio, Proportion and Rates of Change

3.9 Exchange Rates

EDEXCEL 1MA1 · Calculator allowed · about 90 minutes

Total Marks

Name: _______________________________ Date: ____ / ____ / ______

Answer ALL questions. Show all your working.

The exchange rate is 1 pound = 1.10 euros. Which calculation works out how many euros Sam receives when he changes 40 pounds?

A) 40 x 1.10
B) 40 / 1.10
C) 40 + 1.10
D) 1.10 / 40

(Total for Question 1 is 1 mark)

The exchange rate is 1 pound = 1.15 euros.

(a)Convert 50 pounds into euros.(2)

(b)Convert 46 euros into pounds.(2)

(Total for Question 2 is 4 marks)

Nina is changing 80 pounds before her round the world trip. The exchange rates are: 1 pound = 1.28 US dollars, and 1 pound = 165 Japanese yen.

(a)Work out how many US dollars Nina receives for her 80 pounds.(2)

(b)Work out how many Japanese yen Nina receives for her 80 pounds.(2)

(Total for Question 3 is 4 marks)

Aisha is going on holiday to France. The exchange rate is 1 pound = 1.25 euros. Aisha changes 250 pounds into euros.

(a)Work out how many euros Aisha receives.(2)

(b)While on holiday Aisha spends 162.50 euros. She changes the euros she has left back into pounds, using the same exchange rate. Work out how many pounds she receives.(3)

(Total for Question 4 is 5 marks)

While in Italy, Priya buys three souvenirs costing 12.50 euros, 8.75 euros and 15.25 euros. The exchange rate is 1 pound = 1.16 euros. Priya has a budget of 32 pounds for souvenirs.

(a)Work out the total cost of the souvenirs in euros.(1)

(b)Convert the total cost into pounds. Give your answer correct to 2 decimal places.(2)

(c)State, with a reason, whether Priya stays within her budget of 32 pounds.(2)

(Total for Question 5 is 5 marks)

Tom changes 25 pounds into euros before his day trip to Portugal. The exchange rate is 1 pound = 1.15 euros.

(a)Work out how many euros Tom receives.(2)

(b)Tom buys a coffee for 3.50 euros. Work out how many euros Tom has left.(1)

(Total for Question 6 is 3 marks)

A pair of trainers costs $216 in America or 175 pounds in the UK. The exchange rate is 1 pound = 1.20 dollars.

(a)Work out the cost of the trainers in America in pounds.(2)

(b)State which country has the cheaper price for the trainers, and by how much, ft from (a).(2)

(Total for Question 7 is 4 marks)

A bureau de change offers an exchange rate of 1 pound = 1.18 euros. It also charges a fixed fee of 3 pounds for each transaction, taken from the amount changed before the exchange rate is applied. Bilal changes 200 pounds into euros. Work out how many euros he receives.

(Total for Question 8 is 3 marks)

A jacket costs 60 euros in France. There is a sale of 20% off before Emma buys it. The exchange rate is 1 pound = 1.20 euros.

(a)Work out the sale price of the jacket in euros.(2)

(b)Work out the cost of the jacket in pounds, ft from (a).(2)

(Total for Question 9 is 4 marks)

The exchange rate between pounds and Swiss francs is 1 pound = 1.30 Swiss francs.

(a)Convert 85 pounds into Swiss francs.(2)

(b)Convert 143 Swiss francs into pounds.(2)

(Total for Question 10 is 4 marks)

Petrol costs 1.55 euros per litre in France. Petrol costs 1.42 pounds per litre in the UK. The exchange rate is 1 pound = 1.17 euros.

(a)Work out the cost of the French petrol in pounds per litre. Give your answer correct to 3 significant figures.(2)

(b)State, with a reason, which country's petrol is cheaper per litre, ft from (a).(2)

(Total for Question 11 is 4 marks)

Josh changes 240 pounds into euros and receives 276 euros. Work out the exchange rate, giving your answer in the form 1 pound = ... euros.

(Total for Question 12 is 2 marks)

At the start of the year, the exchange rate was 1 pound = 1.20 euros. By the summer, the rate had increased by 5%.

(a)Work out the new exchange rate.(2)

(b)Kwame changes 300 pounds into euros using the new rate. Work out how many euros he receives, ft from (a).(2)

(Total for Question 13 is 4 marks)

Fatima wants to change 400 pounds into US dollars. Bank rate: 1 pound = 1.24 dollars, with no fee. Post Office rate: 1 pound = 1.30 dollars, but a fee of 15 pounds is taken from the 400 pounds before the exchange rate is applied.

(a)Work out how many dollars Fatima would get from the bank.(2)

(b)Work out how many dollars Fatima would get from the Post Office.(3)

(c)State which option gives Fatima more dollars, and by how much, ft from (a) and (b).(2)

(Total for Question 14 is 7 marks)

In Spain, oranges cost 2.40 euros per kg. In the UK, the same type of oranges cost 1.85 pounds per kg. The exchange rate is 1 pound = 1.16 euros.

(a)Work out the cost of the Spanish oranges in pounds per kg. Give your answer correct to 2 decimal places.(3)

(b)State, with a reason, which country's oranges are cheaper per kg, ft from (a).(2)

(Total for Question 15 is 5 marks)

While travelling, Priya changes pounds into euros using a rate of 1 pound = 1.15 euros. Later, she changes her remaining euros into US dollars using a rate of 1 euro = 1.09 dollars. She starts with 300 pounds and spends 200 euros before changing the rest into dollars.

(a)Work out how many euros Priya has after changing her 300 pounds.(2)

(b)Work out how many euros remain after she spends 200 euros, ft from (a).(1)

(c)Work out how many dollars Priya receives when she changes the remaining euros, ft from (b).(2)

(Total for Question 16 is 5 marks)

1 pound = 1.18 euros and 1 pound = 1.32 US dollars. Work out how many US dollars are equivalent to 50 euros. Give your answer correct to 2 decimal places.

(Total for Question 17 is 4 marks)

A bank uses two different exchange rates for pounds and euros. When you change pounds into euros, the bank uses a rate of 1 pound = 1.12 euros. When you change euros back into pounds, the bank uses a rate of 1 pound = 1.18 euros (this means you need 1.18 euros to receive 1 pound back). Chloe changes 300 pounds into euros. Later, she changes all of the euros she received back into pounds.

(a)Work out how many euros Chloe receives for her 300 pounds.(2)

(b)Work out how many pounds Chloe receives when she changes the 336 euros back into pounds. Give your answer correct to 2 decimal places, ft from (a).(3)

(c)Work out how much money Chloe has lost as a result of using these two exchange rates, ft from (b).(2)

(Total for Question 18 is 7 marks)

Mark scheme · 3.9 Exchange Rates

Question 1

B1 A (40 x 1.10) cao
Answer: A

Question 2

(a) M1 50 x 1.15 oe
(a) A1 57.50 cao
(a) Answer: 57.50 euros
(b) M1 46 / 1.15 oe
(b) A1 40 cao
(b) Answer: 40 pounds

Question 3

(a) M1 80 x 1.28 oe
(a) A1 102.40 cao
(a) Answer: $102.40
(b) M1 80 x 165 oe
(b) A1 13200 cao
(b) Answer: 13200 yen

Question 4

(a) M1 250 x 1.25 oe
(a) A1 312.50 cao
(a) Answer: 312.50 euros
(b) M1 312.50 - 162.50 (= 150) ft from (a)
(b) M1 150 / 1.25 oe
(b) A1 120 cao
(b) Answer: 120 pounds

Question 5

(a) B1 36.50 cao
(a) Answer: 36.50 euros
(b) M1 36.50 / 1.16 oe, ft from (a)
(b) A1 awrt 31.47
(b) Answer: 31.47 pounds
(c) B1ft yes, stated with correct comparison, ft from (b)
(c) B1ft correct reason e.g. 31.47 < 32 (or 31.4655... < 32)
(c) Answer: Yes, she stays within budget

Question 6

(a) M1 25 x 1.15 oe
(a) A1 28.75 cao
(a) Answer: 28.75 euros
(b) B1ft 25.25, ft from (a)
(b) Answer: 25.25 euros

Question 7

(a) M1 216 / 1.20 oe
(a) A1 180 cao
(a) Answer: 180 pounds
(b) B1ft UK stated, ft from (a)
(b) A1ft 5 pounds cheaper, ft from (a)
(b) Answer: UK is cheaper by 5 pounds

Question 8

M1 200 - 3 (= 197) oe
M1 197 x 1.18 oe
A1 232.46 cao
Answer: 232.46 euros

Question 9

(a) M1 60 x 0.8 oe
(a) A1 48 cao
(a) Answer: 48 euros
(b) M1 48 / 1.20 oe, ft from (a)
(b) A1 40 cao
(b) Answer: 40 pounds

Question 10

(a) M1 85 x 1.30 oe
(a) A1 110.50 cao
(a) Answer: 110.50 Swiss francs
(b) M1 143 / 1.30 oe
(b) A1 110 cao
(b) Answer: 110 pounds

Question 11

(a) M1 1.55 / 1.17 oe
(a) A1 awrt 1.32
(a) Answer: 1.32 pounds per litre
(b) B1ft France stated, ft from (a)
(b) B1ft correct reason e.g. 1.32 < 1.42, ft from (a)
(b) Answer: France, since 1.32 pounds is less than 1.42 pounds

Question 12

M1 276 / 240 oe (correct division set up)
A1 1.15 cao
Answer: 1 pound = 1.15 euros

Question 13

(a) M1 1.20 x 1.05 oe
(a) A1 1.26 cao
(a) Answer: 1 pound = 1.26 euros
(b) M1 300 x 1.26 oe, ft from (a)
(b) A1 378 cao
(b) Answer: 378 euros

Question 14

(a) M1 400 x 1.24 oe
(a) A1 496 cao
(a) Answer: $496
(b) M1 400 - 15 (= 385) oe
(b) M1 385 x 1.30 oe
(b) A1 500.50 cao
(b) Answer: $500.50
(c) B1ft Post Office stated, ft from (a) and (b)
(c) A1ft $4.50 more, ft from (a) and (b)
(c) Answer: The Post Office gives 4.50 dollars more

Question 15

(a) M1 2.40 / 1.16 oe
(a) M1 correct method to convert to a decimal value
(a) A1 awrt 2.07
(a) Answer: 2.07 pounds per kg
(b) B1ft UK stated, ft from (a)
(b) B1ft correct reason e.g. 1.85 < 2.07, ft from (a)
(b) Answer: UK, since 1.85 pounds is less than 2.07 pounds

Question 16

(a) M1 300 x 1.15 oe
(a) A1 345 cao
(a) Answer: 345 euros
(b) B1ft 145, ft from (a)
(b) Answer: 145 euros
(c) M1 145 x 1.09 oe, ft from (b)
(c) A1 158.05 cao
(c) Answer: $158.05

Question 17

M1 50 / 1.18 oe (convert euros to pounds)
A1 awrt 42.37
M1 their pounds x 1.32 (convert pounds to dollars), ft
A1 awrt 55.93
Answer: $55.93

Question 18

(a) M1 300 x 1.12 oe
(a) A1 336 cao
(a) Answer: 336 euros
(b) M1 their (a) / 1.18 oe, ft
(b) M1 correct method to obtain a decimal value
(b) A1 awrt 284.75
(b) Answer: 284.75 pounds
(c) M1ft 300 - their (b), ft
(c) A1ft 15.25 cao
(c) Answer: 15.25 pounds

Question 1

1 mark

Choose an answerA) 40 x 1.10B) 40 / 1.10C) 40 + 1.10D) 1.10 / 40