The price of Indian Rupees in US dollars was 0.0215 last month and is 0.0201 tod
ID: 2651383 • Letter: T
Question
The price of Indian Rupees in US dollars was 0.0215 last month and is 0.0201 today. Which of the following is TRUE given this information?
The value of the US dollar has not changed with respect to the Indian Rupee.
Today, $100 US dollars can be exchanged into approximately 4,975 Indian Rupees.
Today, 100 Indian Rupees can be exchanged into approximately $49.75.
The US dollar has lost value against the Indian Rupee.
The Indian Rupee has gained value against the US dollar.
a.The value of the US dollar has not changed with respect to the Indian Rupee.
b.Today, $100 US dollars can be exchanged into approximately 4,975 Indian Rupees.
c.Today, 100 Indian Rupees can be exchanged into approximately $49.75.
d.The US dollar has lost value against the Indian Rupee.
e.The Indian Rupee has gained value against the US dollar.
Explanation / Answer
Last Month 0.0215 = $ 1 Hence, value of Dollars in terms of rupees = 1/0.0215 = 46.51
Today 0.0201 = $ 1, Hence, value of Dollars in terms of rupees = 1/0.0201 = 49.75
Hence. Today $ 100 US Dollars can be exchanged into appromaximately into 4975 Indian Rupees.
(100 * 49.75). Hence, (b) option is correct.
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