1.Fred is going to visit Ireland. He buys Travellers’ Cheques to the value of £300 at an exchange rate of 1.605 Euros to the pound and pays 1% commission on any conversion. So how many Euros will he have if he converts all of his Travellers’ Cheques to Euros?
2.Last year Fred went to South Africa. Having prepared himself with Travellers’ Cheques from Lloyds at no charge he was a little surprised to find the Bureau de Change at Cape Town International advertising “no commission on Travellers’ Cheques” but when he asked to exchange some Travellers’ Cheques to Rand he was told there would be a charge of 70 Rand. There are between 11 and 12 Rand per pound Sterling.
a.How big was the charge in Sterling?
b.How much money would he need to convert to make the 70 Rand charge better value than 1% commission?
3.Fred hired a car to help him explore the Cape peninsula. That cost him £460. He covered 4500 kilometres. Fuel cost typically 200 Rand for 700km driving.
a.What was the hire charge in Rand?
b.To the nearest hundred Rand, how much did he spend on fuel?
c.If he spent that rounded amount on fuel, what was his cost in Rand per 100km?
d.Show that 45 miles per gallon equates to 6.27 litres per 100km.
e.Estimate how many times more expensive fuel is in Britain compared to South Africa, assuming Fred’s car managed to return 45 miles per gallon.
4.On the way home from South Africa, the plane calls at Schiphol in Amsterdam. Fred will have to use some Euros to help while away the three or four hours of the stop over. If the total distance from Cape Town to London is something like 6900km and if the plane generally flies at 900kmph, then
a.Just how short could the flight have been? Add half an hour back on for acceleration and deceleration.
b.The whole trip back took 23 hours from check-in to reaching home. What was the average speed?
c.What was the effect on the average speed by adding each hour at Schiphol?