Financial Mathematics Quiz Worksheet - Math Studies 12 Year 2 Page 8
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15 Write your FULL name: ________________________________________
Bank buys
Bank sells
foreign currency
foreign currency
Denmark (KR)
11.38
10.78
Finland (MKK)
7.00
6.60
France (FFR)
10.05
9.45
Germany (DM)
2.854
2.798
Greece (DR)
292
266
NO COMMISSION CHARGED
Geraldine eats a meal in a restaurant while on holiday in Greece. The meal costs 4256 drachma
(DR).
(a)
Use the bank-selling price to calculate the cost of the meal in British pounds.
The Williams family go to Germany. Before leaving, they change 600 GBP into German marks.
(b)
Calculate the number of German marks they receive for 600 GBP , giving your answer
correct to two decimal places.
They spend 824 DM in Germany, and on returning to the United Kingdom, they change their
remaining German marks into British pounds.
(c)
Calculate the number of British pounds they receive, correct to two decimal places.
Working:
Answers:
(a) ..................................................................
(b) ..................................................................
(c) ..................................................................
(Total 4 marks)
14.
Zog from the planet Mars wants to change some Martian Dollars (MD) into US Dollars (USD).
The exchange rate is 1 MD = 0.412 USD. The bank charges 2% commission.
(a)
How many US Dollars will Zog receive if she pays 3500 MD?
Zog meets Zania from Venus where the currency is Venusian Rupees (VR). They want to
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