Numeracy Higher November 2018 Unit 2 Q3
3. Amrit is planning to go to Switzerland.
The table below shows the rates for exchanging British pounds (£) and Swiss francs (CHF) at a money exchange shop.
| Buy Swiss francs (CHF) | £1 buys 1.24 CHF |
| Sell Swiss francs (CHF) | 1.28 CHF buys £1 |
The exchange shop:
- has all possible British notes and coins,
- sells and buys CHF notes only (no coins are available or accepted),
- has 10 CHF, 20 CHF, 50 CHF, 100 CHF, 200 CHF and 1000 CHF notes.
Amrit has £480 to buy Swiss francs.
Calculate
- the maximum number of Swiss francs that Amrit can buy, and
- how much, to the nearest penny, this will cost him.
You must show all your working. [5]
| Scheme | Marks | Comments |
|---|---|---|
| (Change to CHF) 480 × 1.24 (No coins, so can buy only) 590 (CHF) | M1 A2 | (= 595.2 CHF) A1 for an answer of 595(.2 CHF) |
| (Cost to Amrit for 590 CHF is ) 590 ÷ 1.24 OR 480 - (595.2 – 590) ÷ 1.24 | M1 | FT ‘their whole number multiple of 10 CHF’ ÷ 1.24 or 595 ÷ 1.24 |
| (£) 475.81 | A1 | Depends only on previous M1 awarded Do not FT from 595 ÷ 1.24 Must be to the nearest penny, do not accept (£)475.8(0) If no marks, due to consistent use of 1.28 then SC1 for sight of 610 CHF AND SC1 for (£)476.56 |