In this activity, we will be converting different currencies using their exchange rates.
We will use a calculator for this activity!
As we are aware, we use the £ in the UK.
If we want to travel to another country then we have to use their particular currency.
For example, the USA use dollars ($), Australia use Australian dollars (AUS $) and Europe use the euro (€).
If we want to exchange our £ for another currency then there is an exchange rate.
Convert £500 to euros.
The exchange rate is £1 = €1.15
This means that for every £ we have, we get 1.15 euros.
If we have £500, then we multiply by the exchange rate:
500 x 1.15 = €575
This works the other way too!
If we want to convert another currency back to £'s.
Convert $300 to £'s
The exchange rate is £1 = $1.30
If we have $300, then we divide by the exchange rate:
300 ÷ 1.30 = £230.77
Happy with that?
Let's try some questions and problems!