Answer:
Gain = $666.67
Step-by-step explanation:
The businessman exchanged 660000 INR to US Dollar using the exchange rate of $1 = INR 110
Value of the money in dollars is;
(660000 × 1)/110 = $6000
Now, Nepali currency is reevaluated by 10%. This means it's value has gone up by 10%.
Thus, exchange rate of $1 is now;
110 - 10%(110) = INR 99
Thus, 660000 INR to US Dollar using this new exchange rate gives;
(660000 × 1)/99 = $6666.67
Therefore he made a gain.
Gain = 6666.67 - 6000
Gain = $666.67
