Question

An American tourist needs to exchange his $1000 at a Currency Exchange store in an Indian Airport. The
US Dollar exchange rate against Indian currency is '70. However, the Currency Exchange Store charges 7%
fee for the whole currency transaction in Indian currency. What amount of Indian currency will the
American Tourist receive from his $ 1000 exchange?*
A) 60,000
B) 64.900
C) 65,100
D)69,300
E) 69,510​

Answer 1

Answer:

$1 US dollar = ₹70 Indian rupees

so, $ 1000 US = ₹70,000 Indian rupees

The currency exchange store changed 7% fee for whole currency transaction in Indian rupees ;

so, 7% of 70,000 = 7/100x 70,000

= ₹ 4900

so, The American tourist received money

= 70,000 - 4,900

= ₹ 65,100

Answer 2

Answer:

Step-by-step explanation:

1,000 United States Dollar equals72,907.25 Indian Rupee. 7 % of 72,907.25 INR = 5,103.5075.

So the Currency Exchange Store will take 5,103.5075 INR.

Therefore the American Tourist will receive 72,907.25 - 5,103.5075 = 67,803.7425 INR .

This value is equivalent to 930.00 United States Dollar.