New Mathematics Counts Sec 3: Chapter 1 Mathematics in Practical Situations (Enrichment Worksheet 2)

Money Exchange
You shall set out to play a game involving money exchange with your teacher in this
worksheet.

Materials/Equipment you would need:

Die
Calculator
Copy of the travelling sheet in Appendix B
Cut-out of newspaper (preferably Business
Times) showing exchange rates between
various foreign currencies and the
Singapore dollar (to be shared among the
whole class)

Procedure
Step 1: Teacher to divide class into 4 groups, A, B, C and D.

Step 2:Each student to assign himself/herself a code according to the group and the
position down the row that he/she is in. E.g. 4th pupil in Group B is to call
himself/herself B4.

Step 3: Teacher to assign an amount of S$20 000 to each team. Pupil A1, B1, C1 and D1
to record the amount down in the travelling sheet.

Step 4: Teacher to show students the various exchange rates on the visualiser.

Step 5: Pupil A1, B1, C1 and D1 to throw the die to determine the currency for the first
transaction; thereafter, record the currency type and its buying and selling rates
down in the travelling sheet.

E.g.

Starting amount: S$20 000

Transaction Name of Code Currency Selling rate Buying rate Resulting
pupil (S$100) (S$100) loss (S$)
1 Annie B1 Euro 48.30 48.20
2
3
4

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New Mathematics Counts Sec 3: Chapter 1 Mathematics in Practical Situations (Enrichment Worksheet 2)

5
6
7
8
9
10

Step 6: Pupil A1, B1, C1 and D1 to find the amount of the respective foreign currency
that S$20 000 can be exchanged into by dividing S$20 000 by its buying rate.

E.g.

Currency: Euro

Buying rate: 48.20€ for S$100

 20 000 
S$20 000 =    48.20€
 100 
= 9 640€

Step 7: Pupil A1, B1, C1 and D1 to then calculate the amount of the Singapore dollars
that the amount of the respective foreign currency obtained in Step 6 can be
exchanged back into by dividing it by the selling rate; thereafter, determine the
resulting loss from the transaction and record it down in the travelling sheet.

E.g.

Currency: Euro

Selling rate: 48.30€ for S$100

 9 640 
9 640€ =    S$100
 48.30 
= S$19 958.59

Resulting loss = S$20 000  S$19 958.59

= $41.41

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New Mathematics Counts Sec 3: Chapter 1 Mathematics in Practical Situations (Enrichment Worksheet 2)

Step 8:Pupil A1, B1, C1 and D1 to pass travelling sheet to the next member of the
neighboring team (i.e. A1 B2, B1  C2, C1  D2, D1  A2) down the row.
Pupil A2, B2, C2 and D2 to check whether the resulting gain/loss that he/she has
obtained is correct. (Note: Pupil A2, B2, C2 and D2 is to use a red pen to cross
out the answer recorded by Pupil A1, B1, C1 and D1 in the event that it is wrong.)

Step 9:Pupil A2, B2, C2 and D2 to throw the die to determine the currency for the next
transaction down the row; thereafter, record the currency type and its buying and
selling rates down in the travelling sheet.

E.g.

Starting amount: S$20 000

Transaction Name of Code Currency Selling rate Buying rate Resulting
pupil (S$100) (S$100) loss (S$)
1 Annie B1 Euro 48.30 48.20 41.41
2 Ben C2 Ringgit 42.90 42.10
3
4
5
6
7
8
9
10

Step 10: Pupil A2, B2, C2 and D2 to repeat Steps 6 and 7 with this foreign currency that
he/she has obtained. (Note to pupils: If you cannot finish your calculations in 3
minutes, your transaction will be cancelled. The next member from the
neighbouring team will continue with the previous transaction. No marks will be
awarded to your team.)

Step 11:Pupil A2, B2, C2 and D2 to pass travelling sheet to the next member of the
neighboring team (i.e. A2 B3, B2  C3, C2  D3, D2  A3) down the row.
Pupil A3, B3, C3 and D3 to check whether the resulting loss/gain that he/she has
obtained is correct. (Note: Pupil A3, B3, C3 and D3 is to use a red pen to cross
out the answer recorded by the Pupil A2, B2, C2 and D2 in the event that it is
wrong.)

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New Mathematics Counts Sec 3: Chapter 1 Mathematics in Practical Situations (Enrichment Worksheet 2)

Step 12: Teacher and pupils to continue with Steps 9 – 11 until all members of the class
have played the game. (Note to teacher: You may wish to then declare the team
with the least number of mistakes as the winner upon the end of the game.)

END

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New Mathematics Counts Sec 3: Chapter 1 Mathematics in Practical Situations (Enrichment Worksheet 2)

Appendix A

Code for foreign currencies

Code Currency

1 United State Dollars

2 United Kingdom Pounds

3 Euro

4 Japan Yen

5 Germany Deutsche
Marks

6 Malaysia Ringgit

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New Mathematics Counts Sec 3: Chapter 1 Mathematics in Practical Situations (Enrichment Worksheet 2)

Appendix B:

Travelling sheet:

Starting amount: S$

Transaction Name of Code Currency Selling rate Buying rate Resulting

pupil (S$100) (S$100) loss (S$)

10

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New Mathematics Counts Sec 3: Chapter 1 Mathematics in Practical Situations (Enrichment Worksheet 2)

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