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TYPE 3: SELLING RATE PROBLEMS WITHOUT MARGIN

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 


KINDLY CLICK ON THE BELOW PAGES TO VIEW NEXT TYPE PROBLEMS IN TELEGRAPHIC TRANSFER & BILL BUYING RATE

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