| Date | May 2017 | Marks available | 3 | Reference code | 17M.1.sl.TZ2.8 |
| Level | SL only | Paper | 1 | Time zone | TZ2 |
| Command term | Give your answer and Find | Question number | 8 | Adapted from | N/A |
Question
Claudia travels from Buenos Aires to Barcelona. She exchanges 8000 Argentine Pesos (ARS) into Euros (EUR).
The exchange rate is 1 ARS = 0.09819 EUR. The bank charges a 2% commission on the exchange.
When Claudia returns to Buenos Aires she has 85 EUR left and exchanges this money back into ARS. The exchange rate is 1 ARS = 0.08753 EUR. The bank charges \(r\)% commission. The commission charged on this exchange is 14.57 ARS.
Find the amount of Euros that Claudia receives. Give your answer correct to two decimal places.
Find the value of \(r\).
Markscheme
\(8000 \times 0.09819 \times 0.98\) (M1)(M1)
Note: Award (M1) for multiplying 8000 by 0.09819, (M1) for multiplying by 0.98 (or equivalent).
769.81 (EUR) (A1) (C3)
[3 marks]
\(r\% \times \frac{{85}}{{0.08753}} = 14.57\) (M1)(M1)
Note: Award (M1) for dividing 85 by 0.08753, and (M1) for multiplying their \(\frac{{85}}{{0.08753}}\) by \(r\% \) and equating to 14.57.
OR
\(\frac{{85}}{{0.08753}} = {\text{971.095}} \ldots \) (M1)
Note: Award (M1) for dividing 85 by 0.08753.
\(\frac{{14.57}}{{9.71095 \ldots }}\)\(\,\,\,\)OR\(\,\,\,\)\(\frac{{14.57}}{{971.095 \ldots }} \times 100\) (M1)
Note: Award (M1) for dividing 14.57 by 9.71095… or equivalent.
\(r = 1.50{\text{ }}(1.50036 \ldots )\) (A1) (C3)
[3 marks]
