Money

1
Money
Level E
Revision Money Level D
Foreign Exchange Rates
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Converting Back to s
2
Starter Questions
Level E
Q1. Convert to 24hr clock
8.15am
10.02pm
Q2. Round to 1 decimal place 103.525
Q3. How many minutes in 6 hours
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Q4. Find the time difference between 5.12am and
2.34pm
3
Money Problems
Level E
Revision Level D
Learning Intention
Success Criteria

• To revise Level D mixed money problems.

• Solve mixed money problems.

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4
Money Problems
Level E
Revision Level D
Example I bought some items in a sports
shop. I paid with 4 20s notes. What was my
change.

Trainers 59.99 Tennis Racket 8.51
Football 4.99
4 x 20 80
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73.49
6.51
5
Money Problems
Level E
Revision Level D
Example Copy and complete the bill.

Parts 39.75 Labour 48.30
A tax Added by Government
Sub-Total
88.05
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11.62
VAT
99.67
Total Bill
6
Money Problems
Level E
Revision Level D
Example Work the cost of 30 litres of unleaded.
92.9p
4 - Star
10 x 98.9 9.89
98.9p
x 3
Unleaded
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29.67
Diesel
100.9p
7
Money
Level E
Revision of Level D
Now try Exercise 1 Ch4 (page 49)
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8
Starter Questions
Level E
Q1. Convert to 12 hr clock
20 23
05 32
Q2. Round to 1 decimal place 0.657
Q3. How many minutes in a day
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Q4. Find the time difference between 16 29 and
22 17
9
Foreign Currency
Level E
Converting to another currency
Learning Intention
Success Criteria

• To explain how to convert s to another currency
  give the exchange rate.

1. Understand the term exchange rate.
2. Convert s to another currency give the
exchange rate.
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10
Foreign Currency
Level E
Converting to another currency
Up until 1st January 2002, all the countries in
Europe had their own type of money
(currency). 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.
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A euro is divided into 100 parts and each part is
called a cent
11
Foreign Currency
Level E
Converting to another currency
Exchange rate This is the number of euros you
get for a 1
Example How many euros will I get for 100.
Simply multiply by exchange rate
?
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1
1.44
?
100
?
100 x 1.44
144
12
Foreign Currency
Level E
Converting to another currency
Example How many Dollars and Yens will
I get for 50.
?
1
1.51
?
50
?
50 x 1.51
75.50
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? Yen
1
190
?
50
?
50 x 190
9500 Yen
13
Foreign Currency
Level E
Converting to another currency
Example A iPod costs 300 in Scotland and 420
in Spain. Which is the better buy ?
?
1
1.44
?
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300
?
300 x 1.44
144 x 3
432
Should buy in Spain and save 12
14
Foreign Currency
Level E
Converting to another currency
Now try Exercise 2 Ch4 (page 53)
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15
Starter Questions
Level E
124o
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16
Foreign Currency
Level E
Converting back to s
Learning Intention
Success Criteria

• To explain how to convert another currency back
  to s.

1. Understand the opposite of multiplication is
divide.
2. Convert another currency back into s by
dividing by the exchange rate.
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17
Foreign Currency
Level E
The opposite multiplication is ?
Divide
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.
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18
Foreign Currency
Level E
Converting back to s
Example How many s will I get for 20 .
Simply divide by exchange rate
?
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1.44
1
?
20
?
13.89
20 1.44
19
Foreign Currency
Level E
Converting back to s
Example A business man returns from American
with 450. He converts them back to s. How
much will he get back ?
?
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1.50
1
?
450
?
450 1.50
300
20
Foreign Currency
Level E
Converting back to s
Now try Exercise 3 Ch4 (page 55)
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