Currency Exchange

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Answer Key & Explanations

Currency Exchange · Grade 8 · Worksheet 3

1. Ben is traveling from the United States to Japan. Ben has 579 US dollars and wants to convert them to Japanese yen. The exchange rate is 137 yen for every 1 US dollar. How many yen will Ben receive? Answer: 79323 Solution: Identify the exchange rate: 1 USD = 137 yen. Multiply the amount in USD by the rate: 579 × 137 = 79323 yen.
   Full step-by-step solution

   Step 1: Identify the exchange rate: 1 USD = 137 yen. Step 2: Multiply the amount in USD by the rate: 579 × 137 = 79323 yen. The answer is 79323 yen.

2. Emma is traveling from Canada to Mexico and needs to exchange her Canadian dollars (CAD) for Mexican pesos (MXN). She has 500 CAD to exchange. The bank offers an exchange rate of 1 CAD = 15 MXN, but charges a 2.5% service fee on the total amount of pesos before the exchange. How many Mexican pesos will Emma receive after the fee is deducted? Answer: 7312.5 Solution: Calculate the total Mexican pesos Emma would receive without the fee. 500 CAD × 15 MXN/CAD = 7500 MXN Calculate the 2.5% service fee on the total pesos.
   Full step-by-step solution

   Step 1: Calculate the total Mexican pesos Emma would receive without the fee. 500 CAD × 15 MXN/CAD = 7500 MXN Step 2: Calculate the 2.5% service fee on the total pesos. 2.5% of 7500 MXN = 0.025 × 7500 = 187.5 MXN Step 3: Subtract the fee from the total pesos to find the amount Emma receives. 7500 MXN - 187.5 MXN = 7312.5 MXN Emma will receive 7312.5 Mexican pesos.

3. Ava is planning a trip to Europe and sees the following exchange rate posted at a bank: 1 USD = 0.85 EUR. She wants to convert $340 USD into euros. Later, she decides to convert half of those euros back into USD at the same rate. How many USD will she receive after converting back? Answer: 170 Solution: Convert $340 USD to euros. Since 1 USD = 0.85 EUR, multiply: 340 × 0.85 = 289 EUR. Ava converts half of the euros back to USD.
   Full step-by-step solution

   Step 1: Convert $340 USD to euros. Since 1 USD = 0.85 EUR, multiply: 340 × 0.85 = 289 EUR. Step 2: Ava converts half of the euros back to USD. Half of 289 EUR is 289 ÷ 2 = 144.5 EUR. Step 3: Convert 144.5 EUR back to USD. Since 1 USD = 0.85 EUR, the reverse rate is 1 EUR = 1/0.85 USD. So 144.5 × (1/0.85) = 144.5 ÷ 0.85 = 170 USD. The answer is 170.

4. Jordan is traveling from the United States to Japan. Jordan has 739 US dollars and wants to convert them to Japanese yen. The exchange rate is 134 yen for every 1 US dollar. How many yen will Jordan receive? Answer: 99026 Solution: Identify the exchange rate: 1 USD = 134 yen. Multiply the amount in USD by the rate: 739 × 134 = 99026 yen.
   Full step-by-step solution

   Step 1: Identify the exchange rate: 1 USD = 134 yen. Step 2: Multiply the amount in USD by the rate: 739 × 134 = 99026 yen. The answer is 99026 yen.

5. (4 × 10³) × (2.5 × 10⁴) = ? Answer: 100000000 Solution: Multiply the coefficients: 4 × 2.5 = 10 Add the exponents: 3 + 4 = 7 Combine the results: 10 × 10⁷ Convert to standard form: 10 × 10,000,000 = 100,000,000 The answer is 100000000.
   Full step-by-step solution

   Step 1: Multiply the coefficients: 4 × 2.5 = 10 Step 2: Add the exponents: 3 + 4 = 7 Step 3: Combine the results: 10 × 10⁷ Step 4: Convert to standard form: 10 × 10,000,000 = 100,000,000 The answer is 100000000.

6. Noah is exchanging 256 US dollars to Canadian dollars. The exchange rate is 1 US dollar = 1.36 Canadian dollars. How many Canadian dollars will Noah receive? Answer: 348.16 Solution: Identify the given information. Amount in US dollars = 256. Exchange rate: 1 USD = 1.36 CAD.
   Full step-by-step solution

   Step 1: Identify the given information. Amount in US dollars = 256. Exchange rate: 1 USD = 1.36 CAD. Step 2: Multiply the amount in US dollars by the exchange rate: 256 × 1.36. Step 3: Calculate: 256 × 1.36 = 256 × (1 + 0.36) = 256 + 92.16 = 348.16. Step 4: So, Noah receives 348.16 Canadian dollars. The answer is 348.16.

7. Aroha is exchanging 840 New Zealand dollars (NZD) to US dollars (USD). The exchange rate is 1 NZD = 0.62 USD. How many US dollars will Aroha receive? Answer: 520.80 Solution: Identify the amount in NZD: 840 NZD. Identify the exchange rate: 1 NZD = 0.62 USD. Multiply the amount in NZD by the exchange rate to find the amount in USD: 840 × 0.62.
   Full step-by-step solution

   Step 1: Identify the amount in NZD: 840 NZD. Step 2: Identify the exchange rate: 1 NZD = 0.62 USD. Step 3: Multiply the amount in NZD by the exchange rate to find the amount in USD: 840 × 0.62. Step 4: Calculate: 840 × 0.62 = 840 × (62/100) = (840 × 62) / 100 = 52080 / 100 = 520.80. Step 5: Aroha will receive 520.80 USD. The answer is 520.80.

8. A rectangular solar panel has dimensions 2.4 × 10³ meters by 8.0 × 10² meters. What is the area of the solar panel in square meters? Express your answer in scientific notation. Answer: 1.92e6 Solution: Write the dimensions: length = 2.4 × 10³ m, width = 8.0 × 10² m Calculate area = length × width = (2.4 × 10³) × (8.0 × 10²) Multiply the coefficients: 2.4 × 8.0 = 19.2 Add the exponents: 10³ × 10² = 10^(3+2) = 10^5 Combine results: 19.2 × 10^5 Convert to proper scientific notation: 19.2 × 10^5 =…
   Full step-by-step solution

   Step 1: Write the dimensions: length = 2.4 × 10³ m, width = 8.0 × 10² m Step 2: Calculate area = length × width = (2.4 × 10³) × (8.0 × 10²) Step 3: Multiply the coefficients: 2.4 × 8.0 = 19.2 Step 4: Add the exponents: 10³ × 10² = 10^(3+2) = 10^5 Step 5: Combine results: 19.2 × 10^5 Step 6: Convert to proper scientific notation: 19.2 × 10^5 = 1.92 × 10^6 The answer is 1.92 × 10^6.