In which city is the hotel room cheaper

Assignment Help Macroeconomics

Reference no: EM1326135

Monetary conversion

Suppose the Indian rupee price of one British pound is 54.392 rupees for each pound. A hotel room in London costs 120 pounds, while a similar hotel room in New Delhi costs 6,500 Indian rupees. In which city is the hotel room cheaper, and by how much?

Reference no: EM1326135

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