1. 21
Currency Exchange
A bank sells sterling at a rate of €1 = £0.82. Mark is travelling to London and wants to convert €900. How much sterling will he get?
Arrange the exchange rate to have the currency you are looking for on the right-hand side
€1 = £0.82
€900 = £0.82 × 900
= £738
Ali returns from the USA and has $1,100. A bank buys dollars at a rate of €1 = $1.38.
How much will he get in euro?
Arrange the exchange rate to have the currency you are looking for on the right-hand side
€1 = $1.38
$1.38 = €1
$1 = €1 ÷1.38
$1,100 = (€1 ÷1.38) × 1,100
= €
= €797.10

2. 21
Currency Exchange
If €1 = $1.42 (Australian dollar), €1 = ¥ (Japanese yen) and €1 = £0.87:
(a) How many Australian dollars would you get for €60?
(b) How many Japanese yen would you get for €150?
(c) How many pounds would you get for €50?
(d) How many euro would you get for ¥67,122?
(e) How many euro would you get for $106.50?
(f) Are you better off if you have ¥44,748 or £347?
(a) How many Australian dollars would you get for €60?
€1 = $1.42
€60 = $1.42×60
€60 = $85.20
(b) How many Japanese yen would you get for €150?
€1 = ¥111.87
€150 = ¥ ×150
€150 = ¥16,780.50

3. 21
Currency Exchange
€1 = $1.42 (Australian dollar), €1 = ¥ (Japanese yen) and €1 = £0.87:
(c) How many pounds would you get for €50?
€1 = £0.87
€50 = £0.87 ×50
€50 = £43.50
(d) How many euro would you get for ¥67,122?
€1 = ¥111.87
¥ = €1
¥1 = €1 ÷
¥67,122 = (€1 ÷ ) ×67,122
¥67,122 = €600
(e) How many euro would you get for $106.50?
€1 = $1.42
$1.42 = €1
$1 = €1 ÷ 1.42
$ = (€1 ÷ 1.42) ×106.50
$ = €75

4. 21
Currency Exchange
€1 = $1.42 (Australian dollar), €1 = ¥ (Japanese yen) and €1 = £0.87:
(f) Are you better off if you have ¥44,748 or £347?
Change both currencies into euro to compare them.
€1 = ¥111.87
€1 = £0.87
¥ = €1
£0.87 = €1
¥1 = €1 ÷
£1 = €1÷ 0.87
¥44,748 = (€1 ÷ ) ×44,748
£347 = (€1÷ 0.87)×347
¥44,748 = €400
£347 = €398.85
You are better off by €1.15 if you have ¥44,748.