Bitcoin And Exchange RatesAlgebra Level 4
John has a store. He wants to increase his internet sales traffic. His store is in the US. One of the things cutting into John's profit margin is credit card fees. He normally pays 4% of any transaction to credit card processors. If John uses Bitcoin, he only pays 1%. But, Bitcoin's price changes daily. Immediately upon a transaction happening, John has to convert Bitcoin to US Dollars.
John is selling Glittery Widgets. The sales price for one widget is $20 USD. John can manufacture a Glittery Widget for $10. No matter where he ships in the world, FedEx will deliver it for $4 USD.
Anil told his friend Hamish about Glittery Widgets. Hamish wants to buy a Glittery Widget, and he has to buy one for Anil. Hamish lives in the UK. Anil is from India, but is studying this term in Switzerland.
Where, 1 USD=0.001690 BTC;
1 GBP=102.763 RPC;
1 GBP=1.68498 USD;
1 GBP=1.52754 CHF.
How many Rupees does Anil have to give to Hamish to buy 1 Glittery Widget?