Question

Ria is an Indian student who was admitted to a US university. Her annual tuition is $42,000. She has to pay her tuition fees in US dollars. She needs to calculate how many Indian rupees she will need to buy one dollar. The dollar to rupee exchange rate is 63.76 and rupee to dollar exchange rate is 0.015. How many Indian rupees will Ria need to buy one dollar?

Answer 1

To calculate the total Indian rupees that RIA will need to exchange for 1 US dollar, take the exchange rate from rupee to dollar which is equivalent to 0.015. This rate is equivalent to the ratio, 1 Indian rupee (INR): 0.015 US dollars (USD). Multiplying 1 USD with the ratio of 1 INR/0.015 USD is equivalent to 66.67 INR.

Answer 2

the answer is c. 63.76