Question: CALCULATOR-FREE 5 APPLICATIONS UNIT 1 Question 3 (8 marks) The table below shows the buy and sell rates for one Australian dollar advertised by an

CALCULATOR-FREE 5 APPLICATIONS UNIT 1 Question 3 (8 marks) The table below shows the buy and sell rates for one Australian dollar advertised by an airport foreign exchange kiosk for several currencies. Currency (country) Buy rate Sell rate Euro (Euro Monetary Union) 0.70 0.65 Kroner (Norway) 7.00 6.60 Peso (Philippines) 40 36 (a) Explain why the kiosk would use the sell rate if a person wanted to exchange $200 for pesos and state how many pesos the person would receive. (2 marks)

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