Ten > Currency and Exchange Rate

Asked by Basanta · 2 years ago

A merchant exchanged Rs.7,06,062 with pound sterling (£) at the rate of the pound sterling (£)1 = NRs. 168.11. After one week, the Nepali rupees is devaluated by 2%.

1. What amount of pound sterling (£) does the merchant exchange with the Nepali rupees he had? Find it.
2. What would be the new exchange rate after 2% devaluation of Nepali rupees? Find it.
3. How much rupees will the merchant gain or lose when he exchanged Nepali rupees with the sterling pound at the time of devaluation? Find it.