Business Studies Multiple Choice Question – 14 March 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Pete has a South African restaurant in the centre of Stafford. To ensure that his meals are as authentic as possible he imports some of the ingredients from Cape Town. The exchange rate between the pound (£) and the Dollar($) is very important to Pete. He buys 500 kg of Biltong from Cape Town every month. The Biltong costs $10 per kg.

The exchange rate is £1.00 = $1.40.

How much does Pete have to pay, in pounds (£), to buy the Biltong each month?

Select ONE answer:

  1. £4,000.00
  2. £3,846.15
  3. £3,703.70
  4. £3,571.43

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 4:

  1. £4,000.00 – is not correct because the wrong figures have been used.
  2. £3,846.15 – is not correct because the wrong figures have been used.
  3. £3,703.70 – is not correct because the wrong figures have been used.
  4. £3,571.43 – is correct because the correct figures been used – (10 x 500) / 1.40

 

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