Currency ConversionTest your ability to convert from one currency to another with this self marking quiz. 
This is level 1; Simple onestep conversion questions. You can earn a trophy if you get at least 7 questions correct. The table to the right is the conversion rates at an airport in London. It lists the value of one British pound whether it is being converted into a different currency (We Sell) or whether a foreign currency is being converted to pounds (We Buy). Give your answers to two decimal places. 

This is Currency Conversion level 1. You can also try:
Level 2
Current exchange rates data powered by Exchange Rate API and last updated on Wed, 17 Apr 2024 00:02:31 UTC.
InstructionsTry your best to answer the questions above. Type your answers into the boxes provided leaving no spaces. As you work through the exercise regularly click the "check" button. If you have any wrong answers, do your best to do corrections but if there is anything you don't understand, please ask your teacher for help. When you have got all of the questions correct you may want to print out this page and paste it into your exercise book. If you keep your work in an ePortfolio you could take a screen shot of your answers and paste that into your Maths file. 




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Level 1  Simple onestep conversion questions
Level 2  Multistep currency conversion problems
Exam Style Questions  A collection of problems in the style of GCSE or IB exam paper questions (worked solutions are available for Transum subscribers).
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Phil is setting off from London for a business trip to Germany. He converts £230 to euros. How many euros will he receive?
If the 'We Sell' rate for euros is 1.41 then he will receive 230 × 1.41 = 324.30 euros. Notice that the answer has two digits after the decimal point even though the second one is zero.
After working on a theme park in Australia, Jane is returning to the UK. She converts AU$1010 to pounds. How many pounds will she receive?
If the 'We Buy' rate for Australian dollars is 2.22 then she will receive 1010 ÷ 2.22 = £454.96. Notice that the answer has been rounded to two decimal places
Don't wait until you have finished the exercise before you click on the 'Check' button. Click it often as you work through the questions to see if you are answering them correctly. You can doubleclick the 'Check' button to make it float at the bottom of your screen.
Answers to this exercise are available lower down this page when you are logged in to your Transum account. If you don’t yet have a Transum subscription one can be very quickly set up if you are a teacher, tutor or parent.
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Nick Morgan, International
Sunday, March 22, 2020
"On the Currency Exchange tasks, I think the rate are wrong.
When converting funds to a foreign currency you should the "Sell" rate which should be lower than the "Buy" rate, which is used when converting back to pounds.
Your instruction contradict the methods outlined everywhere else.
Is this a mistake?
[Transum: Thanks so much for your feedback Nick. I just did a Google images search to look at photographs people had taken of exchange rates boards around the world. There is indeed a difference in how the words Buy and Sell are interpreted as you can see by the examples below. I guess it is important to point out this inconsistency to pupils!  I have made the words Buy and Sell editable above so if you are projecting this activity to a whole class you can type in the column titles that suit you.]
"
Alastair, UK
Thursday, January 12, 2023
"I agree with Nick that this is very confusing. If you look it up, most sites I looked on suggest that it should be the exchange who is 'buying' or 'selling' the foreign currency. However, this board is written as the customer 'buying'/'selling' the foreign currency."
David, ExchangeRateAPI
Friday, January 27, 2023
"I see on your page discussion about the buy/sell working  writing "we buy" or "we sell" as in your screenshots is indeed the common solution to clear up the confusion that can occur with this.
[Transum: Thanks David, that's a great idea, I have made that change  though those titles are editable should a teacher wish to display something else.]
Finally, if you want a fun mathematical trick for your students you can add a section about how you can work out the reverse rate by doing 1 / rate. I.e. say USD to ZAR is 17.0000, then 1/17.0000 is approx. 0.0588 which is roughly the rate of ZAR to USD. Interestingly it won't be the exact reverse rate we supply. Either because there is unusually more demand one way compared to the other due to something like a war breaking out or a sudden interest rate change. Or alternatively because we collect data for pairs atomically, i.e. data for USD to ZAR and then separately for ZAR to USD and can actually have sources that may have one pair but not the other. Then our rates will reflect subtly different prices. But as a rule of thumb it's still pretty useful, typically 99% accurate and I just thought maybe there's a maths lesson there somewhere!"