The Basics (Junior Cert Mathematics): Quizzes

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Foreign Exchange
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What is foreign exchange?

Changing money from one type to another

What is an exchange rate?

A rule showing value of one currency type

If €1 = 1.32 USD, what does this mean?

1 Euro is worth 1.32 US Dollars

What is the first step in converting currency?

Write the conversion rate

What is the second step to make calculations easier?

Get 1 unit on the left-hand side

Convert 200 USD to Euros if €1 = 1.32 USD.

€151.52

Convert 150 USD to Euros if €1 = 1.50 USD.

€100

Convert €200 to British Pounds if €1 = £0.85.

£170

Convert ¥10,000 to Euros if ¥100 = €0.80.

€80

When can you multiply the exchange rate directly?

When rate shows 1 unit of your currency

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