Exchange rates Quiz (Grade 3)

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Topic:

Score: 0 / 10

Exchange rates — Notes & Worked Examples Show / Hide

Explanation:

An exchange rate tells you how much of a foreign currency is equal to £1 (for example, £1 = $1.25 or £1 = €1.16). To convert from £1 into the foreign currency, multiply by the exchange rate.

To convert back from the foreign currency into £, divide by the exchange rate. When comparing prices of an item in two different countries, convert both prices into the same currency first, then subtract to find the difference.

Example 1: The exchange rate is £1 = €1.15.
(a) Change £320 into euros.
(b) Change €299 into pounds.

Solution:

(a) £ to € (multiply): 320 × 1.15 = €368

(b) € to £ (divide): 299 ÷ 1.15 = £260

Answer: (a) €368 (b) £260

Example 2: A watch costs £140 in London and $189 in New York. Given £1 = $1.26, where is the watch cheaper and by how much in £?

Solution:

Convert $189 to £: 189 ÷ 1.26 = £150

Difference: £150 − £140 = £10

Answer: London is cheaper by £10

One Page Guide (PDF) Exchange rates Worksheets

Question 1

[1 mark]

Convert £350 into Euros using the exchange rate £1 = €1.25

€

Worked Solution & Answer

Multiply by the exchange rate to convert from the 1 unit currency; divide by the exchange rate to convert back.
€437.50

Answer: € €437.50

Question 2

[1 mark]

Convert $800 into Pounds (£) using the exchange rate £1 = $1.40

Worked Solution & Answer

Multiply by the exchange rate to convert from the 1 unit currency; divide by the exchange rate to convert back.
£571.43

Answer: £ £571.43

Question 3

[3 marks]

In London, a 200 g Choci bar costs £3.50. In Zurich, a 360 g Choci bar costs 7.20 Swiss francs. £1 = 1.25 Swiss francs. In which city is the Choci bar better value for money?

In London, a 200 g Choci bar costs £3.50
In Zurich, a 360 g Choci bar costs 7.20 Swiss francs.
The exchange rate is £1 = 1.25 Swiss francs.
In which city is the Choci bar the better value for money, in London or in Zurich?
You must show how you get your answer.

Worked Solution & Answer

7.20 ÷ 1.25 = £5.76 M2
£5.76 ÷ 360 = 1.6p per gram vs £3.50 ÷ 200 = 1.75p per gram ⇒ Zurich A1

Answer: Zurich (London = 1.75p/g; Zurich = £5.76 for 360 g = 1.6p/g)

Question Paper (PDF) • Mark Scheme (PDF)

Question 4 IGCSE Jun 2021 2F Q6

[3 marks]

The cost of a mobile phone in the UK is £350
The cost of an identical mobile phone in India is 28 938 rupees.
The exchange rate is £1 = 91 rupees.
The cost of the mobile phone in the UK is more than the cost of the mobile phone in India.
Work out how much more.

Worked Solution & Answer

£350 × 91 = 31 850 rupees M1
31 850 − 28 938 = 2912 rupees (or 28 938 ÷ 91 = £318 M1
£350 − £318 = £32) A1

Answer: £ £32 (or 2912 rupees)

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Question 5 IGCSE Jun 2025 1FR Q12

[3 marks]

A shop accepts payment in pounds (£) or in Swiss francs.
In the shop, a shirt costs £35 or 42 Swiss francs.
The cost of a jacket is £54
Alex works out the cost of the jacket in Swiss francs.
She uses the same exchange rate that was used for the cost of the shirt.
What is the cost of the jacket in Swiss francs?

Swiss francs

Worked Solution & Answer

42 ÷ 35 = 1.2 Swiss francs per £1 M2
54 × 1.2 = 64.8 (or 64.80) Swiss francs. A1

Answer: 64.80 Swiss francs

Question Paper (PDF) • Mark Scheme (PDF)

Question 6 IGCSE Jun 2022 2F Q12

[3 marks]

Ingrid buys a bag in Sweden.
The price of the bag is 1342 Swedish Krona.
The price of an identical bag in Finland is 125 euros.
Using an exchange rate of
1 euro = 11 Swedish Krona
work out how much cheaper the bag is in Sweden than it is in Finland.
You must give the units of your answer.

Worked Solution & Answer

1342 ÷ 11 = 122 euros M1
125 – 122 = 3 euros (or 125 × 11 = 1375 Krona M1
1375 – 1342 = 33 Swedish Krona) A1

Answer: 3 euros (or 33 Swedish Krona)

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Question 7 IGCSE Jun 2023 2F Q14

[3 marks]

14 1 dollar = 0.85 euros; 1 dollar = 6.45 yuan. (a) Change 720 dollars to euros. (1) (b) Change 2580 yuan to euros. (2)

(a) Change 720 dollars to euros. [1 mark]

euros

(b) Change 2580 yuan to euros. [2 marks]

euros

Worked Solution & Answer

(a)

720 × 0.85 = 612 euros B1

Answer (a): 612 euros

(b)

2580 ÷ 6.45 = 400 dollars M1
400 × 0.85 = 340 euros A1

Answer (b): 340 euros

Question Paper (PDF) • Mark Scheme (PDF)

Question 8 IGCSE Jun 2023 2FR Q7

[4 marks]

Gerhard is travelling from Zurich to Munich.
The table shows the exchange rate in each city.

Gerhard wants to change 1620 Swiss francs to euros.
He would receive more euros if he changes his Swiss francs in Munich than he would receive if he changes his Swiss francs in Zurich.
How many more?

euros

Worked Solution & Answer

In Zurich: 1620 × 0.90 = 1458 euros M2
In Munich: 1620 ÷ 1.08 = 1500 euros M1
Difference = 1500 – 1458 = 42 euros A1

Answer: 42 euros

Question Paper (PDF) • Mark Scheme (PDF)

Question 9 IGCSE Nov 2021 1F Q5

[4 marks]

James is on holiday in Canada.
The exchange rate is £1 = 1.75 Canadian dollars.

(a) Change £800 into Canadian dollars. [2 marks]

Canadian dollars

(b) Work out the difference in the prices of the two watches.
Give your answer in pounds (£) [2 marks]

Worked Solution & Answer

(a)

800 × 1.75 = 1400 CAD M1 A1

Answer (a): 1400 Canadian dollars

(b)

98 ÷ 1.75 = £56 M1
60 – 56 = £4 A1

Answer (b): £ 4

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Question 10 IGCSE Jan 2022 2F Q13

[5 marks]

Here is a conversion graph to change between Canadian dollars and pounds (£)

(a) 46 Canadian dollars to pounds (£) [1 mark]

(b) £10 to Canadian dollars. [1 mark]

Canadian dollars

(b) Change 528 euros to Canadian dollars. [3 marks]

Canadian dollars

Worked Solution & Answer

(a)

At 46 CAD, £ = 25 B1

Answer (a): £ 25

(b)

At £10, CAD = 18 (or 18.3) B1

Answer (b): 18 Canadian dollars

(b)

528 ÷ 1.2 = £440 M2
From graph, £30 = 55 CAD (or £11 = 20 CAD), so £440 = (440 ÷ 11) × 20 = 800 CAD (or 770–880) A1

Answer (b): 800 Canadian dollars

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Score: 0 / 10 (0 / 30 marks)

Exchange rates Worksheets Next: Conversions and units →

Grade 3 Quizzes

24 Topics

3A - Error intervals	3B - Operations with fractions
3C - Estimation	3D - Writing and simplifying ratio
3E - Ratio	3F - Proportion recipes
3G - Percentages	3H - Percentage change
3J - Exchange rates	3K - Conversions and units
3L - Scale drawings	3M - Best buy questions
3N - Substitution	3P - Solving linear equations
3Q - Straight line graphs	3R - Area and circumference
3S - Rotations	3T - Reflections
3U - Enlargements	3V - Translations
3W - Mixed transformations	3X - Area of compound shapes
3Y - Frequency trees	3Z - Two way tables