Financial Mathematics Quiz Worksheet - Math Studies 12 Year 2 Page 12
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15 Write your FULL name: ________________________________________
(b) ..................................................................
(Total 8 marks)
20.
Bobby is spending a year travelling from America to France and Britain.
Consider the following exchange rates.
1 US dollar (USD)
= 0.983 Euros
1 British Pound (GBP) = 1.59 Euros
(a)
Bobby changes 500 USD into Euros.
(i)
Calculate how many Euros he receives.
He spends 328 Euros in France and changes the remainder into GBP.
(ii)
Calculate how many GBP he receives.
While in Britain Bobby decides to put this money in a bank that pays 6% simple interest per
annum, and he gets a part-time job to cover his expenses. Bobby remains in Britain for six
months.
(b)
Calculate how much interest he receives for the six months.
Working:
Answers:
(a) (i) ...........................................................
(ii) ...........................................................
(b) ..................................................................
(Total 8 marks)
21.
The exchange rate from US dollars (USD) to French francs (FFR) is given by 1 USD = 7.5 FFR.
Give the answers to the following correct to two decimal places.
(a)
Convert 115 US dollars to French francs.
(b)
Roger receives 600 Australian dollars (AUD) for 2430 FFR. Calculate the value of the US
dollar in Australian dollars.
12
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