Exchange rate & Best buys

• What are exchange rates used for?

  They are used when comparing and converting between different currencies.
• Why is a good understanding of ratio and proportion helpful for exchange rate conversion?

  It helps in simplifying exchange rate conversion questions.
• What are the steps to simplify exchange rate questions?

  1. Put exchange rates in ratio form.
  2. Add lines for prices/costs.
  3. Use scale factors to complete lines.
  4. Pick out the answer.
• How much is €1 worth in Mexican Pesos?

  €1 is worth $19.51 Mexican Pesos.
• How much is ₿1 worth in Euros?

  ₿1 is worth €20004.96.
• If a vintage car costs $1000000 Mexican Pesos, how do you convert this to Euros?


  By dividing $1000000 by 19.51.
• What is the result of converting $1000000 Mexican Pesos to Euros?


  $1000000 Mexican Pesos equals €51255.7662...
• How do you convert €51255.7662... to Bitcoin?

  By dividing €51255.7662... by 20004.96.
• What is the result of converting €51255.7662... to Bitcoin?


  €51255.7662... equals ₿2.56215...
• How should you round the result of converting to Bitcoin?

  Round to a suitable degree of accuracy, which is ₿2.56.
• What is the first step to determine which deal is the best value for money?

  Find the price of 1 item by dividing the number of items and total price by the same scale factor.
• If 3 tins cost £1.20, what is the cost of 1 tin?

  1 tin costs 40p.
• How do you compare prices from different shops?

  Compare the prices of 1 item from each shop to see which is cheaper.
• What is the conclusion if 1 tin costs 40p from shop A and 45p from shop B?

  Shop A is the better value for money.
• How do you determine which shop offers better value for caps?

  1. Find the cost of 1 cap from each shop.
  2. Compare the prices of 1 cap from each shop.
  3. The cheaper price indicates the better value.
• What is the cost of 1 cap from Baseball World if 3 caps cost £22.50?

  £7.50 for 1 cap from Baseball World.
• What is the cost of 1 cap from Head Hut if 5 caps cost £36?

  £7.20 for 1 cap from Head Hut.
• Which shop offers better value for caps based on the prices found?

  Head Hut is better value as £7.20 is cheaper than £7.50.