Q53
MathematicsChapter 04: Currency Exchange & Money Exchange
Question No. 53
Problem Statement
Anish has returned back to Nepal from United Arab Emirate after 5 years. He earned 60,000 United Arab Emirate Dirhams and exchanged it with the Nepali rupees at the exchange rate of 1 Dirham = Rs. 34.83. He deposited the sum in the fixed deposit account of Nepal Bank for 1 year as per the following rate of interest compounded semi-annually: Up to 6 months: 9%, minimum deposit Rs. 50,000. From 6 months to 1 year: 10%, minimum deposit Rs. 50,000. From 1 year to 5 years: 12%, minimum deposit Rs. 75,000. Which body of government decides the exchange rate of currency in our country?
High Frequency SEE Question Difficulty: Moderate