| Date | May 2015 | Marks available | 2 | Reference code | 15M.1.sl.TZ1.6 |
| Level | SL only | Paper | 1 | Time zone | TZ1 |
| Command term | Calculate | Question number | 6 | Adapted from | N/A |
Question
Pietro arrives in Singapore and, at the airport, changes 800 euros (EUR) to Singapore dollars (SGD).
The bank rates quoted at the airport for exchanging EUR with SGD are given in the following table. Also given are the rates for exchanging SGD with British pounds (GBP) and US dollars (USD). There is no commission charged on exchanges.
Calculate the number of SGD Pietro receives.
Pietro also has 100 GBP that he wishes to change to USD for a trip to Cambodia.
To perform this transaction, the GBP must first be converted to SGD and then to USD.
Calculate the number of USD Pietro receives.
Markscheme
\(800 \times 1.55\) (M1)
Note: Award (M1) for multiplication by \(1.55\).
\( = 1240\) (A1) (C2)
\(\frac{{100 \times 1.92}}{{1.28}}\) (A1)(M1)(M1)
Notes: Award (M1) for multiplication by a GBP rate (\(1.92\) or \(2.05\)), (M1) for division by a USD rate (\(1.28\) or \(1.15\)), (A1) for two correct rates used.
\( = 150\) (A1) (C4)
Note: Award a maximum of (A1)(ft)(M1)(M1)(A1)(ft) for \(\frac{{100 \times 2.05}}{{1.15}}\), if in part (a) a rate of \(1.75\) is used.
Award a maximum of (A1)(ft)(M1)(M1)(A1)(ft) if division by an EUR rate is seen in part (a) and multiplication by \(1.28\) and division by \(1.92\) is seen in (b).
Examiners report
Many candidates lost at least two marks on this question for using an incorrect rate. The difference between “Bank buys” and “Bank sells” was not understood by many candidates. Their use of the table was often not consistent, leading to the candidates losing 4 marks, 2 in part (a) and 2 in part (b). Only very few candidates were confused on when to multiply and when to divide by a conversion rate. It was disappointing to see that so many candidates were not able to apply their knowledge of currency conversion in the real world context where both rates are given and the candidate had to decide which one to use. Methods marks were given out frequently, showing candidates were confident to calculate currency conversion with given rates.
Many candidates lost at least two marks on this question for using an incorrect rate. The difference between “Bank buys” and “Bank sells” was not understood by many candidates. Their use of the table was often not consistent, leading to the candidates losing 4 marks, 2 in part (a) and 2 in part (b). Only very few candidates were confused on when to multiply and when to divide by a conversion rate. It was disappointing to see that so many candidates were not able to apply their knowledge of currency conversion in the real world context where both rates are given and the candidate had to decide which one to use. Methods marks were given out frequently, showing candidates were confident to calculate currency conversion with given rates.
