Question

brainly.com Triumph Autos has contracted with an Indian software firm for design software. The payment of 22,779,750 rupees (Rs) is due in 30 days. What is the cost in dollars if the 30-day forward rate is Rs64.39/$.

Answer 1

The cost in dollars is $353,777.76

Step-by-step explanation:

Triumph Autos has contracted with an Indian software firm for design

software

• The payment of 22,779,750 rupees (Rs) is due in 30-days

• The 30-day forward rate is Rs 64.39 per $

We need to find The cost in dollars

∵ The cost = Rs 22,779,750

∵ The rate is Rs 64.39 for each dollar

Let us use the ratio method

→    Rupees        :    Dollars

→    64.39           :    1

→    22,779,750 :     x

By using cross multiplication

∵ 64.39 × x = 22,779,750 × 1

∴ 64.39 x = 22,779,750

- Divide both sides by 64.39

∴ x = 353,777.76 dollars

The cost in dollars is $353,777.76

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