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Maths Gcse Aqa Foundation

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  2. Statistical-Diagrams Aqa Foundation
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  3. Averages-Ranges-And-Data Aqa Foundation
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  4. Tree-Diagrams-And-Combined-Probability Aqa Foundation
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  5. Simple-Probability-Diagrams Aqa Foundation
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  6. Transformations Aqa Foundation
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  7. Vectors Aqa Foundation
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  17. Exchange-Rates-And-Best-Buys Aqa Foundation
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  27. Functions Aqa Foundation
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  28. Forming-And-Solving-Equations Aqa Foundation
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  32. Algebraic-Reasoning Aqa Foundation
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  34. Introduction Aqa Foundation
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Exam code:8300

Exchange rates

Exchange rates are used to compare and convert between different currencies.

How do I convert between currencies?

  • Start by writing the exchange rate

    • £1.00 (GBP) = €1.17 (EUR)

  • To convert from GBP to EURmultiply by 1.17

    • Because 1.00 × 1.17 = 1.17

  • To convert from EUR to GBPdivide by 1.17

    • Because 1.17 ÷ 1.17 = 1.00

  • To find £28 in Euros

    • 28 × 1.17 = €32.76

  • To find €75 in Pounds

    • 75 ÷ 1.17 = £64.10 (to the nearest penny)

Worked Example

On a particular day, the exchange rate from US Dollars to Japanese Yen is:

1 US Dollar = 155.62 Japanese Yen

and the exchange rate from Australian Dollars to Japanese Yen is:

1 Australian Dollar = 102.09 Japanese Yen

An item costs 40 US Dollars.

Find the cost of the item in Australian Dollars.

The first exchange rate is 1 US Dollar = 155.62 Japanese Yen
So to convert from US Dollars to Japanese Yen, multiply by 155.62

40 × 155.62 = 6224.80 Japanese Yen

The second exchange rate is 1 Australian Dollar = 102.09 Japanese Yen
So to convert from Japanese Yen to Australian Dollars, divide by 102.09

6224.80 ÷ 102.09 = 60.9736… Australian Dollars

Round to 2 decimal places as we are dealing with money

60.97 Australian Dollars

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