| Date | May 2014 | Marks available | 2 | Reference code | 14M.1.sl.TZ1.5 |
| Level | SL only | Paper | 1 | Time zone | TZ1 |
| Command term | Calculate | Question number | 5 | Adapted from | N/A |
Question
Dumisani has received a scholarship of 5000 US dollars (USD) to study in Singapore.
He has to travel from South Africa and must change USD for his air fare of 6600 South African rand (ZAR).
The exchange rate is 1USD = 8.2421 ZAR.
In this question give all answers correct to two decimal places.
Calculate the number of USD that Dumisani must change to pay for his air fare.
On arrival in Singapore, Dumisani changes 3000 USD to Singapore dollars (SGD) to pay for his school fees. There is a 2.8% commission charged on the exchange.
Calculate the value, in USD, of the commission that Dumisani has to pay.
The exchange rate is \(1{\text{ USD }} = 1.29903{\text{ SGD}}\).
Calculate the number of SGD Dumisani receives.
Markscheme
\(6600 \times \frac{1}{{8.2421}}\) (M1)
\( = 800.77\) (A1) (C2)
[2 marks]
\(3000 \times 0.028\) (M1)
\( = 84.00\) (accept 84) (A1) (C2)
[2 marks]
\((3000 - 84) \times 1.29903\) (M1)
OR
\(3000 \times 1.29903 \times 0.972\) (M1)
\( = 3787.97\) (A1)(ft) (C2)
Notes: Follow through from their answer to part (b).
Note: Do not penalize in part (c) if conversion process has been reversed consistently ie, multiplication by \(8.2421\) in part (a) and division by \(1.29903\) in part (c).
[2 marks]
