TYPE 3: SELLING RATE PROBLEMS WITHOUT MARGIN TT selling rate for issue of draft for JPY 100,000, if USD/INR is 47.940/9450 and USD/JPY is 99.50/55 . No margins. Give rupee amount to be charged.
Solution: TT selling rate so it simply means Banks are selling. Take the Selling rate which is always more than the buying rate. APPLY CROSS CURRENCY CONCEPT As we need 1 JPY is how much INR Selling rates are USD/INR = 47.9450 and USD/JPY = 99.55. JPY/USD = 1 / 99.55 = 0.01004. Now, JPY/ USD x USD/INR = 0.01004 x 47.9450 JPY/INR = 0.4816. No margins. Thus, the Amount to be debited from customers acount = 0.4816 x 100000 =Rs. 48161.72
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