Question

    What does the two way rates quoted as 1$=82.10/11 ₹,

    mean?
    A 1$ is being sold at 82.10 ₹. Correct Answer Incorrect Answer
    B 1$ is being sold at 82.11 ₹. Correct Answer Incorrect Answer
    C 1$ is being sold at 82.21 ₹. Correct Answer Incorrect Answer
    D 1$ is being sold at 82.01 ₹. Correct Answer Incorrect Answer
    E 1$ is being sold at 81.99 ₹. Correct Answer Incorrect Answer

    Solution

    Two way rates: have separate rates for buying & selling. The rates are from Bank’s perspective: •While Buying rate is 82.10 in this case •While Selling rate is 82.11 in this case Difference between exchange rates is commission of the Authorized Person.

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