CAIE IGCSE Mathematics Extended E1.16 Money Questions

Practise converting currencies, comparing prices and calculating distance- or time-based charges with money answers rounded to the required unit.

Exam points

choose multiplication or division from the stated exchange-rate direction before converting currency
convert both prices to one currency before finding their difference and rounding to cents
combine per-distance and per-time charges to calculate or reverse a total journey cost

Covered syllabus points

E1.16.1 Calculate with money.E1.16.2 Convert from one currency to another.

[Maximum number: 5]

(a)

The total cost of a taxi journey is calculated as
- $ 0.50 per kilometre
plus
- $ 0.40 per minute.

[ 5 ]

(i)

Calculate the total cost of a journey of 32 km that takes 30 minutes.
$

[ 2 ]

28

2

M1 for $32 \times 0.50+30 \times 0.40$

(ii)

The total cost of a journey of 100 km is $ 98.

Show that the time taken is 2 hours.

[ 3 ]

$\begin{aligned}98-100\times0.5&=48\\48\div0.4&=120\text{ minutes}=2\text{ hours}\end{aligned}$
M1 for $100\times0.50+x\times0.40=98$
M1 for 50+0.4x=98 or 0.4x=48
M1 for $x=\frac{48}{0.4}=120\text{ min}=2\text{ hr}$
OR equivalent staged method

[Maximum number: 2]

Dhanu has a model railway.

A new locomotive costs $ 64.

Calculate the cost of the locomotive in rupees when the exchange rate is 1 rupee =$ 0.0154. Give your answer correct to the nearest 10 rupees.

4160 cao nfww
M1 for $64\div0.0154$ .
B1 for rounding their answer to the nearest 10.

[Maximum number: 2]

The exchange rate is 1 euro =$ 1.142.

Johann changes $ 500 into euros.

Calculate the number of euros Johann receives.
Give your answer correct to the nearest euro.

438 cao

2

M1 for $\frac{500}{1.142}$

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Covered syllabus points

Question 1

Question (a)

Question (i)

Question (ii)

Question 2

Question 3