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Exchange Rates & Best Buys (AQA GCSE Maths)

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  • FrontExchange Rates

    When are exchange rates used?

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  • When are exchange rates used?

    Exchange rates are used when comparing and converting between different currencies.

  • True or False?

    Exchange rates can be written as ratios.

    True.

    Exchange rates can be written as ratios.

    E.g. table row blank blank cell GBP space open parentheses £ close parentheses space colon space USD space open parentheses $ close parentheses space end cell row blank blank cell space space space space space space space space space space space space space space 1 space colon space 1.27 end cell end table

  • How do you use an exchange rate £1 = $1.25 to convert £ into $?

    Given an exchange rate of £1 = $1.25, you can convert £ into $ by multiplying your value in £ by 1.25.

    E.g. Convert £16 into $.
    16 × 1.25 = $20.

  • True or False?

    An exchange rate is given as £1 = $1.25.

    To convert $10 into £ you perform the calculation 10 divided by 1.25.

    True.

    If £1 = $1.25 then to convert $10 into £ you work out 10÷1.25.

  • What is a "best buy"?

    A "best buy" is the deal or offer that provides the best value for money among multiple options.

  • True or False?

    To find the best buy, you should always choose the cheapest total price.

    False.

    To find the best buy, you should not always choose the cheapest total price.

    To find the best buy, you should compare the price per unit or item, not just the total price.

  • What is the key step in comparing deals with different quantities?

    The key step in comparing deals with different quantities is to calculate the price of 1 item for each deal.

  • Define unit price.

    Unit price is the cost of a single item or unit of measurement

    This is used to compare products of different sizes or quantities.

  • True or False?

    The deal with the lowest price per unit is always the best buy.

    True.

    The deal with the lowest price per unit is always the best buy, as it offers the best value for money.

  • What is the process for determining which shop offers better value?

    The process for determining which shop offers better value is:

    1) Calculate the unit price for each deal,

    2) Compare the unit prices,

    3) Choose the lowest unit price as the better value.

Previous:Standard & Compound UnitsNext:Symmetry & Shapes

    1. Topic 1

      Number Operations

    2. Topic 2

      Prime Factors, HCF & LCM

    3. Topic 3

      Powers, Roots & Standard Form

    4. Topic 4

      Fractions

    5. Topic 5

      Percentages

    6. Topic 6

      Simple & Compound Interest, Growth & Decay

    7. Topic 7

      Fractions, Decimals & Percentages

    8. Topic 8

      Rounding, Estimation & Bounds

    9. Topic 9

      Surds

    10. Topic 10

      Using a Calculator

    1. Topic 1

      Introduction to Algebra

    2. Topic 2

      Algebraic Roots & Indices

    3. Topic 3

      Expanding Brackets

    4. Topic 4

      Factorising

    5. Topic 5

      Completing the Square

    6. Topic 6

      Algebraic Fractions

    7. Topic 7

      Rearranging Formulas

    8. Topic 8

      Algebraic Proof

    9. Topic 9

      Linear Equations

    10. Topic 10

      Quadratic Equations

    11. Topic 11

      Simultaneous Equations

    12. Topic 12

      Iteration

    13. Topic 13

      Forming & Solving Equations

    14. Topic 14

      Functions

    15. Topic 15

      Coordinate Geometry

    16. Topic 16

      Linear Graphs

    17. Topic 17

      Graphs of Functions

    18. Topic 18

      Equation of a Circle

    19. Topic 19

      Estimating Gradients & Areas under Graphs

    20. Topic 20

      Real-Life Graphs

    21. Topic 21

      Solving Inequalities

    22. Topic 22

      Graphing Inequalities

    23. Topic 23

      Transformations of Graphs

    24. Topic 24

      Sequences

    1. Topic 1

      Ratios

    2. Topic 2

      Problem Solving with Ratios

    3. Topic 3

      Direct & Inverse Proportion

    4. Topic 4

      Standard & Compound Units

    5. Topic 5

      Exchange Rates & Best Buys

    1. Topic 1

      Symmetry & Shapes

    2. Topic 2

      Angles in Polygons & Parallel Lines

    3. Topic 3

      Bearings, Scale Drawing, Constructions & Loci

    4. Topic 4

      Circle Theorems

    5. Topic 5

      Area & Perimeter

    6. Topic 6

      Circles, Arcs & Sectors

    7. Topic 7

      Volume & Surface Area

    8. Topic 8

      Congruence, Similarity & Geometrical Proof

    9. Topic 9

      Area & Volume of Similar Shapes

    10. Topic 10

      Pythagoras & Trigonometry

    11. Topic 11

      Sine, Cosine Rule & Area of Triangles

    12. Topic 12

      3D Pythagoras & Trigonometry

    13. Topic 13

      Vectors

    14. Topic 14

      Transformations

    1. Topic 1

      Introduction to Probability

    2. Topic 2

      Simple Probability Diagrams

    3. Topic 3

      Tree Diagrams

    4. Topic 4

      Combined & Conditional Probability

    1. Topic 1

      Averages, Ranges & Data

    2. Topic 2

      Statistical Diagrams

    3. Topic 3

      Histograms

    4. Topic 4

      Cumulative Frequency & Box Plots

    5. Topic 5

      Scatter Graphs & Correlation