An international bank issues its Traveler credit cards worldwide. When a customer makes a purchase using a Traveler
card in a currency different from the customer's home currency, the bank converts the purchase price at the daily foreign
exchange rate and then charges a 4% fee on the converted cost.
Sara lives in the United States, but is on vacation in India. She used her Traveler card for a purchase that cost 602
rupees (Indian currency). The bank posted a charge of $9.88 to her account that included the 4% fee.
What foreign exchange rate, in Indian rupees per one U. S. dollar, did the bank use for Sara's charge? Round your answer
to the nearest whole number.
Answers: 1
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