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12-Jun-14Created by Mr.Lafferty Maths Dept Money Revision Money Level 1 Foreign Exchange Rates www.mathsrevision.com Converting Back to £s Level 2

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12-Jun-14Created by Mr.Lafferty Maths Dept Starter Questions www.mathsrevision.com Level 2 Q1.Convert to 24hr clock Q2.Round to 1 decimal place 103.525 Q3. How many minutes in 6 hours Q4.Find the time difference between 5.12am and 2.34pm 8.15am10.02pm

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Learning Intention Success Criteria 1.To revise Level 1 mixed money problems. Revision Level 1 1.Solve mixed money problems. Money Problems Level 2

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Revision Level 1 Money Problems Level 2 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 £ 73.49 4 x £20 = £80 - 73.49 80.00 £ 6.51

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Revision Level 1 Money Problems Level 2 Example : Copy and complete the bill. Parts 39.75 Labour48.30 £ 11.62 £ 99.67 Sub-Total + VAT Total Bill £ 88.05 A tax Added by Government

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Revision Level 1 Money Problems Level 2 Example : Work the cost of 30 litres of unleaded. 10 x 98.9 = 9.89 x 3 £ 29.67 4 - Star Unleaded Diesel 92.9p 98.9p 100.9p

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12-Jun-14Created by Mr.Lafferty Maths Dept Now try Exercise 1 Ch4 (page 49) www.mathsrevision.com Money Revision of Level 1 Level 2

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12-Jun-14Created by Mr.Lafferty Maths Dept Starter Questions Starter Questions www.mathsrevision.com Level 2 Q1.Convert to 12 hr clock Q2.Round to 1 decimal place 0.657 Q3. How many minutes in a day Q4.Find the time difference between 16 29 and 22 17 20 2305 32

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Learning Intention Success Criteria 2.Convert £s to another currency give the exchange rate. 1.We are learning how to convert £s to another currency give the exchange rate. 1.Understand the term exchange rate. Foreign Currency Level 2 Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Up until 1 st 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. A euro is divided into 100 parts and each part is called a cent Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Exchange rate : This is the number of euros you get for a £1 Euro Dollar $ 1.44 1.51 Yen190 Exchange rate £1= Example :How many euros will I get for £100. £ 11.44 100 100 x 1.44 =144 Simply multiply by exchange rate Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Euro Dollar $ 1.44 1.51 Yen190 Exchange rate £1 = Example : How many Dollars and Yens will I get for £50. £ $ 11.51 50 50 x 1.51 =$75.50 £ Yen 1190 50 50 x 190 =9500 Yen Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Euro Dollar $ 1.44 1.51 Yen190 Exchange rate £1 = Example : A iPod costs £300 in Scotland and 420 in Spain. Which is the better buy ? £ 11.44 300 300 x 1.44 =144 x 3 = 432 Should buy in Spain and save 12 Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept Now try Exercise 2 Ch4 (page 53) www.mathsrevision.com Level 2 Foreign Currency Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept Starter Questions Starter Questions www.mathsrevision.com Level 2 124 o

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Learning Intention Success Criteria 2.Convert another currency back into £s by dividing by the exchange rate. 1.We are learning how to convert another currency back to £s. 1.Understand the opposite of multiplication is divide. Level 2 Foreign Currency Converting back to £s

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency 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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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Euro Dollar $ 1.44 1.51 Yen190 Exchange rate £1= Example :How many £s will I get for 20. £ 1.441 20 20 ÷ 1.44 = £13.89 Simply divide by exchange rate Converting back to £s

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Euro Dollar $ 1.44 1.50 Yen190 Exchange rate £1 = Example : A business man returns from American with $450. He converts them back to £s. How much will he get back ? $ £ 1.501 450 450 ÷ 1.50 =£300 Converting back to £s

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12-Jun-14Created by Mr.Lafferty Maths Dept Now try Exercise 3 Ch4 (page 55) www.mathsrevision.com Level 2 Foreign Currency Converting back to £s

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