Foreign Exchange (Junior Cert Mathematics): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
What is foreign exchange?
What is foreign exchange?
Changing money from one type to another
What is an exchange rate?
What is an exchange rate?
Rule showing how much one unit of money is worth in another
Meaning of €1 = 1.32 USD
Meaning of €1 = 1.32 USD
1 Euro is worth 1.32 US Dollars
Step 1 in foreign exchange calc
Step 1 in foreign exchange calc
Write the conversion
Step 2 in foreign exchange calc
Step 2 in foreign exchange calc
Get 1 on the left-hand side
Step 3 in foreign exchange calc
Step 3 in foreign exchange calc
Multiply to get the value you want
Convert 200 USD to € at rate €1 = $1.32
Convert 200 USD to € at rate €1 = $1.32
€151.52
When to just multiply in exchange calc
When to just multiply in exchange calc
When rate gives 1 unit of other currency
When to divide first in exchange calc
When to divide first in exchange calc
When finding 1 unit of your currency
Convert £50 to $ at rate £1 = $1.40
Convert £50 to $ at rate £1 = $1.40
$70