Question

Exchange rate of doller vs rupee increases at the rate of 5% per month.If the current rate is rs 40 per dollar,what will be the rate at the end of 2 months?

Answer 1

5 percent of 40 rupees is 2 rupees.

So it increases at the rate of 2 rupees per month.

Corresponding to value given in the question, the answer 40 + 2 + 2

=44 rupees per dollar.

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Answer 2

At the End Of 2 nd Month Rate should Be 40(1.05)²=44.1