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Buying apples

Buying apples. Imagine a store sells apples for $0.55 each. How much will it cost me to buy 53 apples? 53 x 0.55 = $29.15 If I have $300, how many apples can I buy? 300 ÷ 0.55 = 545. Selling apples. Imagine a store buys apples for $0.45 each

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Buying apples

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  1. Buying apples Imagine a store sells apples for $0.55 each. How much will it cost me to buy 53 apples? 53 x 0.55 = $29.15 If I have $300, how many apples can I buy? 300 ÷ 0.55 = 545

  2. Selling apples Imagine a store buys apples for $0.45 each If I sell the store 500 apples how much will they pay me? 500 x 0.45 = $225 If I need $2500 how many apples must I sell? 2500 ÷ 0.45 = 5556

  3. Buying and Selling Foreign Currency The bank’s selling rate for Euros is 1.644814 This mean that they are selling Euros for 1.644814 each. How much will it cost me to buy €500? 500 x 1.644814 = 822.41 If I want to convert $200 into Euros, how many will I get? 200 ÷ 1.644814 = 121.59

  4. Buying and Selling Foreign Currency The bank’s buying rate for Euros is 1.580814 This mean that they are buying Euros for 1.580814 each. How much will I get if I sell €500? 500 x 1.580814 = 790.41 If I want to get $500 how many Euros must I sell? 500 ÷ 1.580814 = 316.29

  5. Practice China uses yuan as their currency, the bank buying rate for yuan is 0.127100, the bank selling rate for yuan is 0.162600. If I am planning a trip to China and want to convert $1500 to yuan, how many yuan will I get? The bank is SELLING me yuan so I pay the selling rate. 1500 ÷ 0.162600 = 9225.09 yuan

  6. Practice China uses yuan as their currency, the bank buying rate for yuan is 0.127100, the bank selling rate for yuan is 0.162600. I return from my trip to China and still have ¥350 left. If I sell them to the bank, how many Canadian Dollars will I get? The bank is BUYING yuan from me, so I get the buying rate. 350 x 0.127100 = $44.49

  7. Practice I am buying a new tie from a store in England. England uses the pound as their currency. The bank buying rate for pounds is 1.996146 and the selling rate is 2.060146. If the tie costs £15.42, how much in Canadian dollars will it cost me? The bank is SELLING me £15.42, so I pay the bank selling rate 15.42 x 2.060146 = $31.77

  8. Textbook Practice Use chart on page 45 for buying and selling rates Questions 1-7 Pg 47-48

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