2/27/2014

Aptitude Test Currency Conversion Questions - graduatewings.co.uk

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Aptitude Test Currency Conversion Questions

It is interesting how candidates that are preparing for quantitative aptitude tests sooner or later discover the importance of practicing currency conversion questions. Often such problems may be difficult to work out especially if you havent done enough practice prior to taking your assessment. If you find such calculations confusing and complicated and you dont know the way around them dont worry and study our practice tutorials which will give you solid background to understand and grasp the idea of how to approach such exam calculations with confidence. Below, we will show you how to work out challenges pertaining to converting sums of money across two exchange rates.

How to convert currencies using two exchange rates

To begin with we have composed the below table that presents with exchange rates in similar way you may find in your aptitude test. Read the test question carefully and try to comprehend what you are required to do.

How much is 1 EUR worth in USD? The above psychometric test currency question asks you to work out how much USD could you get for one EUR. For many test takers such task may be tricky and confusing as they may not know whether to multiply euro by sterling, divide sterling by euro or divide euro by US dollars. What do you think which one of these options is correct? None! All you need to do is to perform simple calculation 1 / 1.1752 / 1.5289 = 0.5565; hence the correct answer would be USD 0.5565; that is for 1 EUR you would get 0.5565 USD. Now you may ask yourself how did we get to this and how do I know what currencies to multiply or divide? The answer is simple. If you dont know what values to times or divide then sketch crossway multiplication and division tables as indicated below. Such tables assume simple equations where you will have to solve for one unknown which will be isolated to one side. For example, for the above question you may sketch two tables one to find out how much was one euro worth in pound sterling whereas the other to work out the amount of US dollars you could buy.

Step 1: 1GBP / 1.1752 EUR = (? GBP) / 1 EUR 1 x 1 / 1.17.52 Step 2: 1USD / 1.5289 GBP = (? USD) / 0.8509 GBP 0.8509 x 1 / 1.5289

To work out the first table follow the above cross calculation and once you work it out calculate the rate between euro and US dollars. Note that to get this rate you will have to find out how many US dollars was 0.8509 GBP worth as 0.8509 GBP equivalents to one euro. Again, diagonally times and divide. If you are not clear about this calculations tactics then refer to our previous tutorial on simple currency conversion questions to find out how to set up and manipulate such equation. Remember, when working out aptitude test currency conversions you will always multiply diagonally as long as there will be direct relationship. You would only cross divide in the case of indirect relationship where one value would be proportionally increasing as other value would be decreasing or vice versa.

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2/27/2014

Aptitude Test Currency Conversion Questions - graduatewings.co.uk

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