Number 9

2 marks · Normal

The current exchange rate is $1 = 199.25 Nigerian naira (₦). How many US dollars can you get in exchange for ₦59,775? Give your answer to the nearest dollar.

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$300 $ (±1)

Also accept: 300

Common mistakes: Multiplying instead of dividing.; Not rounding correctly.

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Marking points

M1 · 1 mark · Attempt division of naira by exchange rate.

A1 · 1 mark · Correct final answer to the nearest dollar: $300. (follow-through)

Worked solution

US dollars obtained = ₦59,775 ÷ 199.25 = $300