Date | November 2018 | Marks available | 2 | Reference code | 18N.1.SL.TZ0.T_3 |
Level | Standard Level | Paper | Paper 1 | 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.
Calculate the value of the commission, in MXN, that Harry paid.
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.
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]
2400 × 0.035 (M1)
Note: Award (M1) for multiplication by 0.035.
= 84 (MXN) (A1) (C2)
[2 marks]
(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]