Currency and Exchange Rate

The local currency in India is a Rupee abbreviated as Re. or Rs. The Rupee is further divided into 100 paisa, but since the value of the paisa is so small, it is hardly ever used. Internationally, within currency transactions, it is also abbreviated as INR. The exchange rates floats and has recently been varying between Rs. 40 and Rs. 50 to a US Dollar. For sake of first approximation and ease of calculation, consider assuming that the rate is Rs. 50 to a US Dollar, and thus Rs. 10 is 20 US cents, and Rs. 100 is US $ 2.

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