A company has taken a Rs 70 crore loan from a foreign company The contract is denominated in dollars...........

Indian Economy (NDA) Financial System

A company has taken a Rs 70 crore loan from a foreign company. The contract is denominated in dollars. Exchange rate as on 31-03-2020 was $1 = Rs 70. Exchange rate as on 31-03-2021 was $1 = Rs 72.5. Payment of loan has to be made in 3 equal instalments. What is the proft or loss as per AS-11?

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2022 NDA -1 Math

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Proft of Rs 2.5 crore

Loss of Rs 2.5 crore

Loss of Rs 1 crore

Profit of Rs 1 crore