Study Notes
Applying numbers involves understanding how to convert between different units and currencies using exchange rates and rates.
- Currency Conversion — converting one currency to another using an exchange rate. Example: ₤225 converted to euros at an exchange rate of ₤1 = €1.62 results in €364.5.
- Rate — a special ratio comparing two different units. Example: A machine fills 134 containers in two minutes, so it would take 14.9 minutes to fill 1000 containers.
Exam Tips
Key Definitions to Remember
- Currency Conversion: Using exchange rates to convert one currency to another.
- Rate: A ratio comparing two different units.
Common Confusions
- Forgetting to multiply by the exchange rate when converting currencies.
- Mixing up the units in a rate calculation.
Typical Exam Questions
- How do you convert ₤225 to euros if ₤1 = €1.62? Multiply ₤225 by €1.62 to get €364.5.
- What is the rate if a machine fills 134 containers in two minutes? The rate is 134 containers per two minutes.
- How long to fill 1000 containers at a rate of 134 containers in two minutes? It takes 14.9 minutes.
What Examiners Usually Test
- Ability to use exchange rates for currency conversion.
- Understanding and applying rates in practical situations.