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4.3 Exchange rates

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Question 32

A UK museum buys a climate-control unit from a Japanese supplier for 1,980,000 yen. The exchange rate changes from £1 = 180 yen to £1 = 165 yen.

Calculate the increase in the Sterling cost of the climate-control unit.

[3]
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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