Calculate the number of EUR George received.

On his return, George had $160$ EUR to change back into USD. There was $4.5\%$ commission charged on the exchange. The exchange rate was $1$ USD = $0.8202$ EUR.

Calculate the value, in EUR, of the commission that George paid.

On his return, George had $160$ EUR to change back into USD. There was $4.5\%$ commission charged on the exchange. The exchange rate was $1$ USD = $0.8202$ EUR.

Calculate the number of dollars George received.

The first time the answer is not given to 2 decimal places the final (A1) in that part is not awarded, incorrect rounding, following correct method, can be ignored in subsequent parts.

\(1200 \times 0.8154\)     (M1)

$= 978.48{\text{ EUR}}$     (A1)     (C2)

[2 marks]

The first time the answer is not given to 2 decimal places the final (A1) in that part is not awarded, incorrect rounding, following correct method, can be ignored in subsequent parts.

$160 \times 0.045$     (M1)

$= 7.20{\text{ EUR}}$     (A1)     (C2)

[2 marks]

The first time the answer is not given to 2 decimal places the final (A1) in that part is not awarded, incorrect rounding, following correct method, can be ignored in subsequent parts.

$152.80 \times \frac{1}{{0.8202}}$     (M1)

Note: Follow through from their answer to part (b).

$= 186.30{\text{ USD}}$     (A1)(ft)     (C2)

Note: Follow through from part (b).

[2 marks]

At whatever ability, there were good attempts by all candidates on this question with an overwhelming majority scoring half marks or more. Indeed, three out of the first four marks were invariably earned with only answers of $7.2$ EUR losing the final mark in part (b). In part (c), errors were invariably caused by candidates ignoring the commission charge or multiplying by $0.8202$ rather than dividing by this value. Another common, but incorrect, method seen was multiply $152.80$ by $(1 + 1 - 0.8202)$, giving the wrong answer of $180.27$ USD. Both marks were lost in all the cases listed.

At whatever ability, there were good attempts by all candidates on this question with an overwhelming majority scoring half marks or more. Indeed, three out of the first four marks were invariably earned with only answers of $7.2$ EUR losing the final mark in part (b). In part (c), errors were invariably caused by candidates ignoring the commission charge or multiplying by $0.8202$ rather than dividing by this value. Another common, but incorrect, method seen was multiply $152.80$ by $(1 + 1 - 0.8202)$, giving the wrong answer of $180.27$ USD. Both marks were lost in all the cases listed.

At whatever ability, there were good attempts by all candidates on this question with an overwhelming majority scoring half marks or more. Indeed, three out of the first four marks were invariably earned with only answers of $7.2$ EUR losing the final mark in part (b). In part (c), errors were invariably caused by candidates ignoring the commission charge or multiplying by $0.8202$ rather than dividing by this value. Another common, but incorrect, method seen was multiply $152.80$ by $(1 + 1 - 0.8202)$, giving the wrong answer of $180.27$ USD. Both marks were lost in all the cases listed.