. Below is the rate of the exchange to the answer of the following questions. Show all the working out to gain full marks. Country Currency Currency code Rate Australia Dollars Au$ 1.33 Japan Yen Yen 1.40 USA Dollars US$ 1.05 Britain Pounds GB€ 0.60 New Zealand Dollars NZ$ 1.80 Changing Kina to foreign currency To convert or change PNG Kina into foreign currency, simply multiply by the rate of exchange. For example. K2000 x 1.33= $Au2660 Changing foreign currency into PNG Kina Simply divide by the exchange rate. 250/1.80= K138.89 a) Rollie is planning to visit USA. She changes K500 into US dollars before she goes. How much dollars will she receive? b) Jim sees a camera advertised in Australia magazine. The price is $Au150. Postage is $Au5. He decides to send the money for the camera. Calculate how much Kina he will have to convert into Australian dollars. c) Maxie goes to New Zealand for a holiday. He changes K600 into New Zealand dollars before he goes. He spends $NZ600 while in New Zealand. When he returns to PNG, he converts what he has left into Kina. Calculate how much Kina he receives. Show all calculations
Question
. Below is the rate of the exchange to the answer of the following questions. Show all the working out to gain full marks. Country Currency Currency code Rate Australia Dollars Au 1.05 Britain Pounds GB€ 0.60 New Zealand Dollars NZ$ 1.80
Changing Kina to foreign currency To convert or change PNG Kina into foreign currency, simply multiply by the rate of exchange. For example. K2000 x 1.33= $Au2660 Changing foreign currency into PNG Kina Simply divide by the exchange rate. 250/1.80= K138.89
a) Rollie is planning to visit USA. She changes K500 into US dollars before she goes. How much dollars will she receive? b) Jim sees a camera advertised in Australia magazine. The price is Au5. He decides to send the money for the camera. Calculate how much Kina he will have to convert into Australian dollars. c) Maxie goes to New Zealand for a holiday. He changes K600 into New Zealand dollars before he goes. He spends $NZ600 while in New Zealand. When he returns to PNG, he converts what he has left into Kina. Calculate how much Kina he receives.
Show all calculations
Solution
a) To find out how much Rollie will receive in US dollars, we need to multiply the amount of Kina she has by the exchange rate for US dollars.
The exchange rate for US dollars is 1.05. So,
K500 * 1.05 = US$525
So, Rollie will receive US$525.
b) To find out how much Kina Jim will have to convert into Australian dollars, we first need to find out the total cost of the camera and postage in Australian dollars.
The cost of the camera is Au5. So,
Au5 = $Au155
The exchange rate for Australian dollars is 1.33. So, to convert this into Kina, we divide by the exchange rate.
$Au155 / 1.33 = K116.54
So, Jim will have to convert K116.54 into Australian dollars.
c) To find out how much Kina Maxie receives when he converts his remaining New Zealand dollars back into Kina, we first need to find out how much New Zealand dollars he had initially.
He changed K600 into New Zealand dollars. The exchange rate for New Zealand dollars is 1.80. So,
K600 * 1.80 = $NZ1080
He spent NZ480 left.
To convert this back into Kina, we divide by the exchange rate.
$NZ480 / 1.80 = K266.67
So, Maxie receives K266.67 when he converts his remaining New Zealand dollars back into Kina.
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