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Date November 2018 Marks available 2 Reference code 18N.1.SL.TZ0.T_3
Level Standard Level Paper Paper 1 (with calculator from previous syllabus) Time zone Time zone 0
Command term Calculate Question number T_3 Adapted from N/A

Question

Harry travelled from the USA to Mexico and changed 700 dollars (USD) into pesos (MXN).

The exchange rate was 1 USD = 18.86 MXN.

On his return, Harry had 2400 MXN to change back into USD.

There was a 3.5 % commission to be paid on the exchange.

Calculate the amount of MXN Harry received.

[2]
a.

Calculate the value of the commission, in MXN, that Harry paid.

[2]
b.

The exchange rate for this exchange was 1 USD = 17.24 MXN.

Calculate the amount of USD Harry received. Give your answer correct to the nearest cent.

[2]
c.

Markscheme

* This question is from an exam for a previous syllabus, and may contain minor differences in marking or structure.

700 × 18.86      (M1)

Note: Award (M1) for multiplication by 18.86.

= 13 200 (13 202) (MXN)      (A1) (C2)

 

[2 marks]

a.

2400 × 0.035       (M1)

Note: Award (M1) for multiplication by 0.035.

= 84 (MXN)     (A1) (C2)

 

[2 marks]

b.

2400 their part (b) 17.24       (M1)

Note: Award (M1) for dividing 2400 minus their part (b), by 17.24. Follow through from part (b).

= 134.34 (USD)       (A1)(ft) (C2)

Note: Award at most (M1)(A0) if final answer is not given to nearest cent.

 

[2 marks]

c.

Examiners report

[N/A]
a.
[N/A]
b.
[N/A]
c.

Syllabus sections

Prior learning
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