# EXCHANGE RATES AND CHEAPEST PRICE (DOC)

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```					Math 11 Applications
Worksheet #2 (Outcomes F2 and F3)

EXCHANGE RATES AND CHEAPEST PRICE

Use the following table for exchange rates. These rates are those posted by the Bank of
Canada on January 13, 2009 and show the value of \$1.00 CAN in five other currencies.
Note that this is the nominal rate. Most banks charge up to 4% of the amount converted
as a service charge.

Mexican        Japanese
Canadian \$       U.S. \$      Australian \$       Euro
Peso             Yen
1.00          1.01             1.01         0.78          12.33           83.61

F2 EXAMPLE 1:

Sigmund is going to Europe. Calculate how many Euros he gets for \$500 CAN.

F2 EXAMPLE 2:

Mai comes back from the summer with 23 000 Japanese Yen. Convert her yen to
Math 11 Applications
Worksheet #2 (Outcomes F2 and F3)

BEST PRICES

F3 EXAMPLE 3:

Thrifty’s offers grade A turkeys for \$1.38/lb, while Safeway offers grade A turkeys for
\$3.06/Kg. Calculate which offers the best price?

F3 EXAMPLE 4:

Barry can buy a 12-L box of laundry detergent for \$7.49 or a 35-L box for \$17.89.
Calculate which is cheaper.
Math 11 Applications
Worksheet #2 (Outcomes F2 and F3)

PRACTICE 1:1

Convert the following:
F2.1 \$350 CAN to U.S. dollars             F2.2 \$200 US to Canadian dollars

F2.3 \$400 CAN to Euros                    F2.4 400 Euros to Canadian dollars

F2.5 \$1000 CAN to Australian dollars      F2.6 \$1500 AUS to Canadian dollars

F2.7 \$100 CAN to Mexican pesos            F2.8 250 pesos to Canadian dollars

F2.9 \$1500 CAN to Japanese yen            F2.10 50 000 yen to Canadian dollars

1
F2.1) \$353.50US   F2.2) \$198.02CAN    F2.3) 312€           F2.4) \$512.82CAN
F2.5) \$1010AUS    F2.6) \$1485.15CAN   F2.7) 1233 pesos     F2.8) \$20.28CAN
F2.9) 125 415¥    F2.10) \$598.01CAN
Math 11 Applications
Worksheet #2 (Outcomes F2 and F3)

PRACTICE 2:2

Calculate which of the following paired items is cheaper.
F3.1 Jell-O: 3 for \$1.98, or 10 for \$5.99

F3.2 ketchup: \$2.99 for 750 mL, or \$5.59 for 1.4 L (1000 mL = 1 L)

F3.3 ham: \$1.19 for 1 pound, or \$2.65 for 1 Kg (0.454 Kg = 1 pound)

F3.4 tomato soup: \$0.54 for 284 mL, or \$1.39 for 907mL

F3.5 macaroni dinner: 12 for \$9.99, or the first 6 for \$0.69 each and the next 6 for \$0.96
each

2
F3.1) 10 for \$5.99   F3.2) no real difference   F3.3) \$1.19/lb   F3.4) 907 mL   F3.5) 6 for 69¢
and 6 for 96¢

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