Ratio, Rate and Speed - Currency Conversion

Ratio, Rate and Speed - Currency Conversion

IP 1
6 marks
  1. Given that the exchange rate between the Singapore dollar \(\text{(S} \$)\) and the Canadian dollar \(\text{(C} \$)\) is \(\text{S}\$1 = \text{C}\$0.93\), convert \(\text {C}\$10\,000\) into Singapore dollars. Leave your answer correct to the nearest cent.

    [2]
  2. A man deposited \(\$30\,000\) into a savings account that pays a simple interest of \(2.2\%\) per annum. Calculate the minimum number of complete years required for the money in the account to exceed \(\$34\,000.\)

    [4]

Solution:

Solution locked

Sign in to view the step-by-step solution

Similar questions are unavailable for this question.
Answer:(a) \(\text{S}\$10\,752.69\) (b) \(7\) years

Need help? Join our JC Math tuition classes.

Learn more