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Use the exchange rate table below to answer the questions that follow - NSC Tourism - Question 3 - 2019 - Paper 1
Question 3
Use the exchange rate table below to answer the questions that follow. EXCHANGE RATE TABLE CURRENCY BBR BSR Pound Sterling (GBP) 18.02 ... show full transcript
Worked Solution & Example Answer:Use the exchange rate table below to answer the questions that follow - NSC Tourism - Question 3 - 2019 - Paper 1
Step 1
Calculate how much they received in rand.
Answer
To calculate how much Gareth and his mother received in South African rand for GBP4000, we use the BBR (Buying Rate) from the exchange rate table:
[ ZAR = GBP \times BBR = 4000 \times 18.02 ]
Calculating this gives:
[ ZAR = 72080.00 ]
Thus, they received ZAR 72,080.00.
Step 2
Calculate the amount they received in GBP.
Answer
To find out how much they received in GBP for their remaining ZAR2000, we use the BSR (Selling Rate) from the exchange rate table:
[ GBP = \frac{ZAR}{BSR} = \frac{2000}{18.10} ]
Calculating this gives:
[ GBP \approx 110.50 ]
Thus, they received GBP 110.50.
Step 3