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Date May 2017 Marks available 3 Reference code 17M.1.SL.TZ2.T_8
Level Standard Level Paper Paper 1 Time zone Time zone 2
Command term Find Question number T_8 Adapted from N/A

Question

Claudia travels from Buenos Aires to Barcelona. She exchanges 8000 Argentine Pesos (ARS) into Euros (EUR).

The exchange rate is 1 ARS = 0.09819 EUR. The bank charges a 2% commission on the exchange.

When Claudia returns to Buenos Aires she has 85 EUR left and exchanges this money back into ARS. The exchange rate is 1 ARS = 0.08753 EUR. The bank charges r % commission. The commission charged on this exchange is 14.57 ARS.

Find the amount of Euros that Claudia receives. Give your answer correct to two decimal places.

[3]
a.

Find the value of r .

[3]
b.

Markscheme

* This question is from an exam for a previous syllabus, and may contain minor differences in marking or structure.

8000 × 0.09819 × 0.98     (M1)(M1)

 

Note:     Award (M1) for multiplying 8000 by 0.09819, (M1) for multiplying by 0.98 (or equivalent).

 

769.81 (EUR)     (A1)     (C3)

[3 marks]

a.

r % × 85 0.08753 = 14.57     (M1)(M1)

 

Note:     Award (M1) for dividing 85 by 0.08753, and (M1) for multiplying their 85 0.08753 by r % and equating to 14.57.

 

OR

85 0.08753 = 971.095     (M1)

 

Note:     Award (M1) for dividing 85 by 0.08753.

 

14.57 9.71095 OR 14.57 971.095 × 100     (M1)

 

Note:     Award (M1) for dividing 14.57 by 9.71095… or equivalent.

 

r = 1.50   ( 1.50036 )     (A1)     (C3)

[3 marks]

b.

Examiners report

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a.
[N/A]
b.

Syllabus sections

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