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Suppose the GDP of India is 65,000 rupees (INR) and the exchange rate between rupees and USD is  68 INR=$1. What is the GDP of India when measured in USD? Note: Please enter your answer as a price. It can include decimals to the hundredth place.

Question

Suppose the GDP of India is 65,000 rupees (INR) and the exchange rate between rupees and USD is  68 INR=$1. What is the GDP of India when measured in USD? Note: Please enter your answer as a price. It can include decimals to the hundredth place.

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Solution

To convert the GDP of India from rupees to USD, you need to divide the amount in rupees by the exchange rate.

Here are the steps:

  1. Identify the GDP in rupees: 65,000 INR
  2. Identify the exchange rate: 68 INR = $1
  3. Divide the GDP in rupees by the exchange rate: 65,000 INR ÷ 68 = $955.88

So, the GDP of India when measured in USD is approximately $955.88.

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