Level E
Money
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Revision Money Level D
Foreign Exchange Rates
Converting Back to £’s
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Starter Questions
Q1. Convert to 24hr clock 8.15am 10.02pm
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Q2. Round to 1 decimal place 103.525
Q3. How many minutes in 6 hours
Q4. Find the time difference between
5.12am and 2.34pm
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Money Problems
Revision Level D
Learning Intention Success Criteria
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1. To revise Level D mixed 1. Solve mixed money problems.
money problems.
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Money Problems
Revision Level D
Example : I bought some items in a sports shop.
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I paid with 4 £20’s notes.
What was my change. £
4 x £20 = £80 Trainers 59.99
Tennis Racket 8.51
Football 4.99
73.49
80.00
- 73.49
£ 6.51
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Money Problems
Revision Level D
Example : Copy and complete the bill.
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£
Parts 39.75
A tax Labour 48.30
Added by Sub-Total £ 88.05
Government + VAT 11.62
Total Bill £ 99.67
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Money Problems
Revision Level D
Example : Work the cost of 30 litres of unleaded.
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10 x 98.9 = 9.89 4 - Star 92.9p
x3 Unleaded 98.9p
£ 29.67 Diesel 100.9p
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Money
Revision of Level D
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Now try Exercise 1
Ch4 (page 49)
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Starter Questions
Q1. Convert to 12 hr clock 20 23 05 32
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Q2. Round to 1 decimal place 0.657
Q3. How many minutes in a day
Q4. Find the time difference between
16 29 and 22 17
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting to another currency
Learning Intention Success Criteria
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1. To explain how to convert 1. Understand the term
£’s to another currency exchange rate.
give the exchange rate.
2. Convert £’s to another
currency give the exchange
rate.
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting to another currency
Up until 1st January 2002, all the countries in Europe
had their own type of money (currency).
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The euro was introduced and the other currencies were
no longer accepted.
Britain still uses the pound (£) and when you go to Europe
on holiday you have to change your pounds to euros.
A euro is divided into 100 parts and each part is called a cent
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting to another currency
Exchange rate : This is the number of euros you get for a £1
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Exchange rate £1=
Example : How many euros will
Euro € 1.44
I get for £100.
Dollar $ 1.51
Simply
multiply by £ € Yen 190
exchange 1 1.44
rate
100 100 x 1.44 = 144 €
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting to another currency
Example : How many Dollars and Exchange rate £1 =
Yens will I get for £50. Euro € 1.44
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£ $ Dollar $ 1.51
1 1.51 Yen 190
50 50 x 1.51 = $75.50
£ Yen
1 190
50 50 x 190 = 9500 Yen
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting to another currency
Example : A iPod costs £300 in Exchange rate £1 =
Scotland and 420 € in Spain. Euro € 1.44
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Which is the better buy ? Dollar $ 1.51
£ € Yen 190
1 1.44
300 300 x 1.44 = 144 x 3 = 432 €
Should buy in Spain and save 12 €
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting to another currency
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Now try Exercise 2
Ch4 (page 53)
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Starter Questions
1. Find the missing angle
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2. 3 cans of juice cost £2.40. 124o
How much for 2 cans.
3. 78 10
4. Find 2 numbers that add to 20
and divide to give 1.
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting back to £’s
Learning Intention Success Criteria
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1. To explain how to convert 1. Understand the opposite of
another currency back to multiplication is divide.
£’s.
2. Convert another currency
back into £’s by dividing by
the exchange rate.
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
The opposite multiplication is ? Divide
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So if we want to convert euros to £’s we need to divide by
the exchange rate.
euros to £’s : Simply divide by exchange rate.
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting back to £’s
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Exchange rate £1=
Example : How many £’s will
Euro € 1.44
I get for 20 €
. Dollar $ 1.51
Simply divide
by exchange € £ Yen 190
rate 1.44 1
20 20 ÷ 1.44 = £13.89
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting back to £’s
Example : A business man returns Exchange rate £1 =
from American with $450. Euro € 1.44
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He converts them back to £’s. Dollar $ 1.50
How much will he get back ?
Yen 190
$ £
1.50 1
450 450 ÷ 1.50 = £300
24-Nov-11 Created by Mr.Lafferty Maths Dept
Level E
Foreign Currency
Converting back to £’s
www.mathsrevision.com
Now try Exercise 3
Ch4 (page 55)
24-Nov-11 Created by Mr.Lafferty Maths Dept