GCSE Secondary Maths Age 13-17 - Ratio, Proportion & Rates of Change: Currency Calculations - Explained

The video tutorial explains how to convert British pounds to Turkish lira using a given exchange rate and how to approximate the cost of an item in pounds using a simplified exchange rate. It evaluates the method of using a simplified rate for quick calculations without a calculator, emphasizing the importance of approximation in practical scenarios.

If the exchange rate is £1.00 = 3.5601 lira, how many lira will you get for £550?

• 1958

• 1960

• 1950

• 2000

Using the conversion rate of £2.00 = 7 lira, what is the approximate cost of an item priced at 210 lira in pounds?

• 50 pounds

• 55 pounds

• 65 pounds

• 60 pounds

What is the simplified conversion rate for £1.00 if £2.00 equals 7 lira?

• 3.8 lira

• 3.5 lira

• 3.7 lira

• 3.6 lira

Why might it be reasonable to use £2.00 = 7 lira instead of the exact rate for quick calculations?

• Because 3.5601 is more than 3.5

• Because 3.5601 is less than 3.5

• Because 3.5601 is exactly equal to 3.5

• Because 3.5601 is approximately equal to 3.5

What is the benefit of using an approximate exchange rate without a calculator?

• It is more accurate

• It is less reliable

• It is more complex

• It is faster and simpler