General Maths Week 3 Quiz Exchange Rates

You're off to Japan! The bank sells Japanese yen for 87.85 and buys Japanese yen for 95.78. How many yen do you get for $1000?

• 8785 yen

• 9578 yen

• 87 850 yen

• 95 780 yen

You're back from Japan! You've got 10 000 Japanese yen left over. The bank sells Japanese yen for 87.85 and buys Japanese yen for 95.78. How many Aussie dollars to you get?

• $878 500

• $113.83

• $104.41

• $957 800

To make money on a currency exchange transactions, banks

• sell foreign currency at a high rate and buy at a low rate.

• sell foreign currency at a low rate and buy at a high rate

The bank is selling USD at a rate of 0.6765. To convert $100 AUD to USD I should

• divide 100 by this rate

• add 100 to this rate

• subtract 100 from this rate

• multiple 100 by this rate

The bank is buying USD at a rate of 0.7344. I have $50USD. To convert back to AUD I should

• divide 50 by this rate

• add 50 to this rate

• multiply 50 by this rate

• wait for the rate to go up.

As an option to cash, many travellers use a TMC. What does this stand for?

• Traveller Money Card

• Travel Money Card

• Today's Money Conversion

• Take My Cash!

When I travel overseas I prefer to use

• Cash

• Travellers Cheques

• IMT

• TMC

In Botswana the currency is called the

• dollar

• peso

• pula

• hula

In 1966, two important things happened. Scott Leisemann was born and

• Australia started using the dollar.

• we landed on the moon.

• Jimmi Hendrix died.

• the war in Vietnam came to an end.

I'm confused! When do I multiply by a rate and when do I divide by a rate?

• If I'm buying foreign currency, multiply. If I'm selling, divide.

• If I'm buying foreign currency, divide. If I'm selling, multiply.