2/27/2014

Foreign Exchange Rates - Numerical Reasoning - graduatewings.co.uk

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Foreign Exchange Rates - Numerical Reasoning

If you are reading this page then probably you want to know how to improve your techniques to work out foreign exchange rate problems in your numerical reasoning test. Such questions encompass wide variety of problems and depending on difficulty level you may be confronted to challenges ranging from working out simple conversions across one currency through to more complex challenges of converting values across multiple currencies. Many people struggle to answer these types of questions nevertheless challenges in such problems are not hard to grip. To succeed you will need to understand few concepts and calculations methods and youll have to be committed to developing your abilities in required areas. Below, you can study example of how to tackle currency conversions when moving across four currencies.

Multiple conversions
As mentioned above the concept of money conversion doesnt have to be difficult all you need to do is to gain basic knowledge and understanding and undertake thorough practice. To demonstrate how to make conversions when moving across four exchange rates in numerical reasoning test consider the table with question below. Nevertheless if you are new starter and want to see easier example then refer to aptitude currency tutorial.

Providing that 1GBP equals to 1.5532 AUD how many JPY was a Pound Sterling worth in July? The above figure may seem to be somewhat scary for many applicants however dont fret you can solve such questions in your aptitude tests if you put your mind to it. Notice to tackle the above you need to convert 1.5532 AUD to USD using euro exchange rate and then you need to convert the amount to Japanese Jens. Its that simple! The quick way of doing this would be 1.5532 / 1.2284 / 0.7959 x 78.3500 = 124.4709 JPY. Below you can review break down of this calculation in tree simple steps. Firstly, to convert 1.5532 of Australian dollars to Euros divide 1.5532 by 1.2284. If you have difficulty to work this out sketch cross multiplications and then multiply and divide crosswise and you will get 1.2644 Euros which equals to one pound. If you are not familiar with this concept then you can check out chapter on simple conversions which provides necessary explanation. Note that crossway sketches may help you in your understanding to formulate key steps to work out the question in your numeracy test. Secondly, take 1.2644 Euros and convert it into US dollars. Remember, if rate of exchange is USD to EUR and you have some Euros that you want to convert into US dollars then you have to multiply the amount by USD and divide the amount by EUR. Conversely, if you want to convert some US dollars to euro then you have to multiply the amount by EUR and divide by USD. Finally convert 1.5886 US dollars to Japanese Jens as illustrated in the above table. It is important that you practice currency conversion problems so that you can convert these in your head or with little help of pen and paper. Try to minimize excessive use of sketches as this may take away valuable time during your numerical reasoning test as you will be working against the clock. Nevertheless by regular practice you will find your own ways to perform such conversions. Remember, the more of exchange rates questions you do the more your brain assimilates and gets used to such mental calculations.

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Foreign Exchange Rates - Numerical Reasoning - graduatewings.co.uk

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