The purpose of this multi-level task is to engage students in an investigation that requires them to use rates, decimal and currency calculation to find a percentage difference.

The background knowledge presumed for this task is outlined in the diagram below:

The task can be presented with graded expectations to provide appropriate challenge for individual learning needs.

Task: In March of 2014, NZ and China brokered a deal to allow direct exchange between their two currencies (NZ$ and CNY, the Chinese Yuan). This removed the need to use in intermediate step of exchanging into US$.

Use the exchange rates below to investigate possible savings if a sum of NZ$ is changed into CNY and then back into NZ$ with and without this direct exchange deal. Find the percentage of the sum involved that is 'lost' within the transactions.

NZ$ → US$ 0.846

US$ → NZ$ 1.168

US$ → CNY 6.213

NZ$ → CNY 5.314

CNY → US$ 0.160

CNY → NZ$ 0.188

### The arithmetic approach (show more)

- The student is able to use currency exchange multipliers to convert between currencies and to find the percentage cost of the exchange, with guidance.

### The procedural algebraic approach (show more)

- The student is able to use currency exchange multipliers to convert between currencies and to find the percentage cost of the exchange.

### The conceptual algebraic approach (show more)

- The student is able to use currency exchange multipliers to convert between currencies and to find the percentage cost of the exchange.