Question

exchanging currencies money markets
aryan is visiting the united kingdom from india and wants to buy 3 kilograms of high - quality basmati rice. the rice is sold in 500 - gram packages, and the price is 6 gbp (british pounds) per package. what is the price of rice in inr (indian rupees) per kilogram?
currency conversion: 1 gbp = 100 inr
600 inr per kilogram
2,400 inr per kilogram
1,200 inr per kilogram
2 inr per kilogram

Explanation:

Step1: Calculate number of 500 - gram packages in 3 kilograms

Since 1 kilogram = 1000 grams, 3 kilograms = 3000 grams. Number of 500 - gram packages is $\frac{3000}{500}=6$ packages.

Step2: Calculate total cost in GBP

Cost per package is 6 GBP, so for 6 packages, total cost in GBP is $6\times6 = 36$ GBP.

Step3: Calculate total cost in INR

Given 1 GBP = 100 INR, so 36 GBP in INR is $36\times100=3600$ INR.

Step4: Calculate cost per kilogram in INR

Cost for 3 kilograms is 3600 INR, so cost per kilogram is $\frac{3600}{3}=1200$ INR per kilogram.

Answer:

1,200 INR per kilogram