Sundip is going on holiday:
She wants to change £400 into euros (€) - OCR - GCSE Maths - Question 10 - 2020 - Paper 3
Question 10
Sundip is going on holiday:
She wants to change £400 into euros (€).
Bank A will change her £400 into €452.
Bank B changed £250 into €280 for Sundip's friend.
It w... show full transcript
Worked Solution & Example Answer:Sundip is going on holiday:
She wants to change £400 into euros (€) - OCR - GCSE Maths - Question 10 - 2020 - Paper 3
Step 1
Bank A Calculation
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Answer
Bank A will change £400 into €452.
To find the exchange rate:
Exchange rate for Bank A = ( \frac{€452}{£400} = 1.13 ) euros per pound.
Step 2
Bank B Calculation
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Answer
Bank B changed £250 into €280.
To find the exchange rate:
Exchange rate for Bank B = ( \frac{€280}{£250} = 1.12 ) euros per pound.
Now, applying this rate to £400:
Amount received from Bank B = ( 1.12 * £400 = €448 ).
Step 3
Comparison
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Answer
Comparing the two banks:
At Bank A, Sundip receives €452.
At Bank B, Sundip receives €448.
Thus, Sundip will receive more euros at Bank A.
Step 4
Final Answer
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Answer
At Bank A, Sundip will receive €4 more than at Bank B.
