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1). An entity borrowed $1000 on April1, 20x1 when 1$ = 40. The rate of interest is 4%. Indian loan interest is 12%. Exchange rate

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1). An entity borrowed $1000 on April1, 20x1 when 1$ = 40. The rate of interest is 4%. Indian loan interest is 12%. Exchange rate on 31.3. 20x2 is 50. The loan is used for a qualifying asset. Find out the interest eligible for capitalization. How much it will be, if the closing exchange rate is 41, or 39

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