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4.3 Exchange rates

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Question 26

A UK university has a budget of £24,000 for research expenses in Denmark. The exchange rate changes from £1 = 8.60 Danish kroner to £1 = 8.25 Danish kroner.

How many fewer Danish kroner can the university obtain for its budget at the new exchange rate?

[1]
A

206,400 Danish kroner

B

198,000 Danish kroner

C

8,400 Danish kroner

D

0.35 Danish kroner

Markscheme

4.3 Exchange rates Questions

  1. GCSE
  2. /Economics
  3. /4.3 Exchange rates

53 exam-style questions on OCR GCSE Economics 4.3 Exchange rates, covering 4.3.1 Draw how exchange rates are determined, 4.3.2 Analyse how exchange rates are determined, 4.3.3 Calculate currency conversion, 4.3.4 Analyse exchange rate data, and 4.3.5 Effect of exchange rate changes. Each one has a worked solution and a mark scheme showing where the marks go.

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