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Currency Conversion Exercises

The document discusses several examples of foreign currency exchange rates and calculations: 1) A tourist exchanged $200 USD for Jamaican currency at a rate of $1 USD = J$18.81 and had to pay a 2% tax on the amount exchanged. 2) Mrs. White bought a computer for BDS $6,240 where the exchange rate was BDS $1.92 = $1 USD. 3) The rates were GUY $1 = $0.01 USD and EC $1 = $0.37 USD. Calculations were provided to convert between the currencies. 4) Karen exchanged BDS $2,000 for EC $700. Calculations were also

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114 views1 page

Currency Conversion Exercises

The document discusses several examples of foreign currency exchange rates and calculations: 1) A tourist exchanged $200 USD for Jamaican currency at a rate of $1 USD = J$18.81 and had to pay a 2% tax on the amount exchanged. 2) Mrs. White bought a computer for BDS $6,240 where the exchange rate was BDS $1.92 = $1 USD. 3) The rates were GUY $1 = $0.01 USD and EC $1 = $0.37 USD. Calculations were provided to convert between the currencies. 4) Karen exchanged BDS $2,000 for EC $700. Calculations were also

Uploaded by

Mr. Bachoo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Foreign Currency

June 1993 Question One


(c) A tourist exchanged US $200.00 for Jamaican currency at the rate of
US $1.00 = J $18.81. She had to pay a government tax of 2% of the amount
exchanged.
Calculate in Jamaican currency
(i) the tax paid
(ii) the amount the tourist received. (4 marks)

January 1999 Question One


(d) Mrs. White bought a new computer for BDS $ 6 240. Given that the exchange rate at
the time was BDS $ 1.92 = US $ 1.00, calculate, in US dollars, the amount of money
she paid for the new computer.
[BDS $ = Barbados dollars, US $ = United States dollars]
(5 marks)
June 2006 Question One
(c) GUY $1.00 = US $0.01 and EC $1.00 = US $0.37.
Calculate the value of
(i) GUY $60 000 in US $ (2 marks)
(ii) US $925 in EC $. (2 marks)
January 2009 Question. One
(b) BDS $ means Barbados dollars and EC $ means Eastern Caribbean dollars.

(i) Karen exchanged BDS $2 000.00 and received EC $ 700.00. Calculate the
value of one BDS $ in EC $. (2 marks)
(ii) If Karen exchanged EC $ 432.00 for BDS $, calculate the amount of BDS $
which Karen would receive. (2 marks)
[Assume that the buying and selling rates are the same.]

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