The amount of pounds (£) that can be bought with the Nepali currency, after allowing for the devaluation and bank commission, is approximately £678.26.
How to determine this?
Calculate the amount of Nepali currency needed to buy $1200 before devaluation and commission:
Buying rate: 1 US dollar = Rs 109.45
Therefore, the amount in Nepali currency to buy $1200 = $1200 * 109.45
Apply the 20% devaluation in Nepali currency:
Devaluation means the currency's value reduces by 20%. To find the new value after devaluation:
New value = Old value - (20% of Old value)
New value = Amount before devaluation - (0.20 * Amount before devaluation)
Calculate the amount after devaluation.
Apply the 3% bank commission on the devaluated amount:
Commissioned amount = Amount after devaluation - (3% of Amount after devaluation)
Convert this amount into British pounds using the given selling rate (£1 Rs. 150.26).
Let's solve this step by step:
Amount in Nepali currency to buy $1200 before devaluation:
$1200 * 109.45 = Rs 131,340
Apply the 20% devaluation:
Amount after devaluation = Rs 131,340 - (0.20 * Rs 131,340)
= Rs 131,340 - Rs 26,268
= Rs 105,072
Apply the 3% bank commission:
Commissioned amount = Rs 105,072 - (0.03 * Rs 105,072)
≈ Rs 105,072 - Rs 3,152.16
≈ Rs 101,919.84
Convert the amount in Nepali currency to pounds using the selling rate (£1 Rs. 150.26):
Amount in pounds = Rs 101,919.84 / 150.26
≈ £678.26 (rounded to two decimal places)
Therefore, the amount of pounds (£) that can be bought with the Nepali currency, after allowing for the devaluation and bank commission, is approximately £678.26.