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Home > Maths I > Numbers and Money > Foreign exchange

Maths I

Foreign exchange

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# Changing back to British money

To change back to British money you divide by the exchange rate.

BRITISH MONEY = FOREIGN CURRENCY / EXCHANGE RATE

## Example

Dave returns from Switzerland with 55 Swiss francs. He changes the francs back to British money, at a rate of £1 = 2.32 francs. How much does he get back?

One pound is 2.32 francs.

So 55 francs = 55 ÷ 2.32 = 23.70689...

You must round the answer to two decimal places.

So Dave gets £23.70 back.

### Try this question yourself.

Question

Heather returns from Australia with 200 dollars. She changes them back to our money when the exchange rate is £1 = 2.82 dollars. How much does she get back?

One pound is 2.82 Australian dollars.

So 200 dollars = 200 ÷ 2.82 = 70.92199...

You must round the answer to two decimal places.

So Heather gets £70.92 back.

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