Apprenticeship and Workplace Mathematics 10
Unit 1 Proportions and Currency Exchange
Lesson Four Practice Assignment
Currency Exchange Rates
1. Use the buy and sell currency rate to determine the rate you would pay in Canadian dollars to
purchase each of the following foreign currencies. (Currency chart at end of assignment)
a. Euro
b. Hong Kong Dollar
c. Indian Rupee
d. Japanese Yen
2. Use the buy and sell currency rate to determine the rate you would receive in Canadian dollars to sell
each of the following foreign currencies.
a. Euro
b. Hong Kong Dollar
c. Indian Rupee
d. Japanese Yen
3. Explain why there is a difference in the buying and selling rates.
4. Construct a ratio that you could use to calculate how many Canadian dollars it would cost to purchase
the given amount of following foreign currencies.
a. 1,000 Euros
b. 2,500 Swiss Francs
5. Determine the cost in Canadian dollars for you to purchase each of the following amounts of foreign
currencies.
a. 15,000 Mexican Pesos
b. 25,000 Danish Krone
c. 5,000 New Zealand Dollars
d. 1,000 US Dollars
Lesson 4
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Unit 1
Apprenticeship and Workplace Mathematics 10
Unit 1 Proportions and Currency Exchange
6. Determine the Canadian dollars you would receive if you sold the given amount of foreign currencies.
a. 100,000 Indian Rupees
b. 20,000 Russian Rubles
c. 2,000 British Pounds
d. 10,000 Australian Dollars
7. Angus has a trip planned to spend two weeks surfing in Southern California. He bought $2,500 US
dollars two days before he was supposed to leave but the trip got cancelled so he had to sell the US
dollars back. Assume the rates had not changed. How much money did it cost him to buy the $2,500
US, and how much did receive from selling it back? How much money did he lose?
The following are buying and selling rates of various world currencies in
Canadian dollars as of April 1 2010
Lesson 4
Country
Currency
Buy Rate
[Bank buys from you]
Sell Rate
[Bank sells to you]
Australia
Dollar {AUD}
0.8789
0.9917
Brazil
Real {BRL}
0.4786
0.6344
China
Renminbi {CNY}
0.1315
0.1682
Denmark
Krone {DKK}
0.1748
0.1927
France
Euro {EUO}
1.3141
1.4263
Germany
Euro {EUO}
1.3141
1.4263
Great Britain
Pound {GBP}
1.4901
1.5930
Hong Kong
Dollar {HKD}
0.1215
0.1397
India
Rupee {INR}
0.01913
0.02501
Japan
Yen {JPY}
0.010348
0.011178
Mexico
Peso {MXN}
0.0700
0.0860
New Zealand
Dollar {NZD}
0.6738
0.7613
Russia
Ruble {RUB}
0.02816
0.04091
Switzerland
Franc {CHF}
0.9260
1.0053
United States
Dollar {USD}
0.9806
1.0332
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Unit 1
Apprenticeship and Workplace Mathematics 10
Unit 1 Proportions and Currency Exchange
ANSWERS
1a. Euro [1.4263]
1b. Hong Kong Dollar [0.1397]
1c. Indian Rupee [0.02501]
1d. Japanese Yen [0.011178]
2a. Euro [1.3141]
2b. Hong Kong Dollar [0.1215]
2c. Indian Rupee [0.01913]
2d. Japanese Yen [0.010348]
3. The difference between the buying and selling rate is called the spread, and that is how a bank or a
currency exchange company make money.
4a.
4b.
1{euro}
1.4263{Can}
1{ franc}
1.0053{Can}
=
=
1, 000{euros}
x {Can}
2, 500{ francs}
x {Can}
5a. It would cost $1290 Canadian to buy 15,000 Pesos.
5b. It would cost $4,817.50 Canadian to buy 25,000 Krone.
5c. It would cost $3,806.50 Canadian to buy 5,000 New Zealand dollars.
5d. It would cost $1,033.30 Canadian to buy 1,000 US dollars.
6a. You would receive $1,913 Canadian dollars.
6b. You would receive $563.20 Canadian dollars.
6c. You would receive $2,980.20 Canadian dollars.
6d. You would receive $8789 Canadian dollars.
7. It cost Angus $2583 Canadian to buy the US dollars, he received $2451.50 Canadian back when he
sold. He lost $131.50 in the transaction.
Lesson 4
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