Maths · Number. The idea in plain words, the rules to remember, the mistake to avoid and a worked example, written and checked by Mega Lecture.
Money questions use the four operations in a real setting: total cost, change, profit, wages, instalments and best value. Read the question slowly, write down each step, and give money answers to two decimal places, such as $5.10.
An exchange rate tells you how much of one currency equals one unit of another. If $1 = 280 rupees, you multiply by 280 to change dollars into rupees and divide by 280 to change rupees into dollars. Check that your answer makes sense: you should get more of the currency that is worth less.
For a best buy, compare the price of the same amount of each item, for example the price per 100 g.
Students multiply by the exchange rate when they should divide. Before you calculate, decide whether the answer should be a bigger or a smaller number than the one you start with.
Answer: $123.02
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