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

The video tutorial explains how to convert British pounds to Turkish lira using a given exchange rate. It demonstrates the calculation of converting £550 to lira and rounding the result. The tutorial also covers estimating the cost of shoes priced at 210 lira in pounds using a simplified exchange rate of £2 = 7 lira. It evaluates the sensibility of using this approximation method without a calculator, highlighting the marks awarded for each step in the process.

If the exchange rate is £1.00 = 3.5601 lira, how many lira will you get for £550.00, rounded to the nearest lira?

• 1957

• 1958

• 1959

• 1960

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

• 65 pounds

• 60 pounds

• 50 pounds

• 55 pounds

What is the simplified exchange rate for £1.00 when using the conversion £2.00 = 7 lira?

• 3.0 lira

• 4.5 lira

• 4.0 lira

• 3.5 lira

Why might it be sensible to use the approximate exchange rate of £2.00 = 7 lira instead of the precise rate of £1.00 = 3.5601 lira?

• It is required by law.

• It is the official exchange rate.

• It gives a more accurate result.

• It is easier to calculate without a calculator.

What is the main advantage of using an approximate exchange rate for quick calculations?

• It ensures the use of the latest exchange rates.

• It simplifies the calculation process.

• It reduces the number of calculations needed.

• It increases the accuracy of the result.