Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    1
    ReputationRep:
    Hi, I've been given a question that I feel I can complete but I first need to form the equation y(t) which I'm not 100% sure how to do. I've attatched a photo of the first part of the question.

    Would y(t)=32,000,000*t*x where x is the exchange rate?

    Thanks
    Attached Images
     
    Offline

    20
    ReputationRep:
    (Original post by Substitution)
    Hi, I've been given a question that I feel I can complete but I first need to form the equation y(t) which I'm not 100% sure how to do. I've attatched a photo of the first part of the question.

    Would y(t)=32,000,000*t*x where x is the exchange rate?

    Thanks
    y(t) = 32000000tx isn't a differential equation. It's just a function of t.

    You know that the banks process a certain amount of money each day and it all becomes euros. How much of the money that they process will be in pounds?
    • Thread Starter
    Offline

    1
    ReputationRep:
    (Original post by morgan8002)
    y(t) = 32000000tx isn't a differential equation. It's just a function of t.

    You know that the banks process a certain amount of money each day and it all becomes euros. How much of the money that they process will be in pounds?
    Initially it would be 32 million right? because nobody will have euros but then it'll change to be p=32000000-xq with p=pounds, x=exchange rate and q= euros?
    Offline

    20
    ReputationRep:
    (Original post by Substitution)
    Initially it would be 32 million right? because nobody will have euros but then it'll change to be p=32000000-xq with p=pounds, x=exchange rate and q= euros?
    If p is the number of pounds exchanged per day and q is defined similarly for euros, yes.


    Also, what can you say about the ratio of pounds to euros taken in by the banks compared with the national ratio?
    • Thread Starter
    Offline

    1
    ReputationRep:
    (Original post by morgan8002)
    If p is the number of pounds exchanged per day and q is defined similarly for euros, yes.


    Also, what can you say about the ratio of pounds to euros taken in by the banks compared with the national ratio?
    That's what I meant .

    Not sure how to define that one, because the national ratio would be hard to define in terms of p and q because it would be the amount of euros that come into circulation from a bank would change every day? I'm probably making this more complicated than it needs to be,

    Thanks for your help
    Offline

    20
    ReputationRep:
    (Original post by Substitution)
    That's what I meant .

    Not sure how to define that one, because the national ratio would be hard to define in terms of p and q because it would be the amount of euros that come into circulation from a bank would change every day? I'm probably making this more complicated than it needs to be,

    Thanks for your help
    We know that the value of euros nationally is y(t) and the total national currency is £64 billion. So we can just divide to find that ratio.
    Also, the ratio of money that comes into the banks is equal to the national ratio. Remember p and q aren't constant, they change as more euros enter country.
    • Thread Starter
    Offline

    1
    ReputationRep:
    (Original post by morgan8002)
    We know that the value of euros nationally is y(t) and the total national currency is £64 billion. So we can just divide to find that ratio.
    Also, the ratio of money that comes into the banks is equal to the national ratio. Remember p and q aren't constant, they change as more euros enter country.
    Okay that makes sense..

    So dq/dp=y(t)/32000000-xq correct?

    Still not sure where to go.. sorry!
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Has a teacher ever helped you cheat?
    Useful resources

    Make your revision easier

    Maths

    Maths Forum posting guidelines

    Not sure where to post? Read the updated guidelines here

    Equations

    How to use LaTex

    Writing equations the easy way

    Student revising

    Study habits of A* students

    Top tips from students who have already aced their exams

    Study Planner

    Create your own Study Planner

    Never miss a deadline again

    Polling station sign

    Thinking about a maths degree?

    Chat with other maths applicants

    Can you help? Study help unanswered threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Write a reply...
    Reply
    Hide
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.