(b) M/s. Sky products Ltd., of Mumbai, an exporter of sea foods has submitted O days bill for EUR 5,00,000 drawn under an irrevocable Letter of Credit for negotiation. The company has desired to keep 56. of the bill amount under the Exchange Earners Foreign Currency Account (EEFC). The rates for F/USD and USD/EUR in inter-bank market are quoted as follows: 7 USD USD/EUR Spot 1 month forward 67.8000 - 67.8100 10/11 Paise 21/22 Paise 1.0775 - 1.8000 0.20/0.25 Cents 0.40/0.45 Cents 2 months forward 3 months forward 32/33 Paise 0.70/0.75 Cents Transit Period is 20 days. Interest on post shipment credit is 8% p.a. Exchange Margin is 0.1%. Assume 365 days in a year. You are required to calculate: (i) Exchange rate quoted to the company (ii) Cash inflow to the company (iii) Interest amount to be paid to bank by the company. (b) M/s. Sky products Ltd., of Mumbai, an exporter of sea foods has submitted O days bill for EUR 5,00,000 drawn under an irrevocable Letter of Credit for negotiation. The company has desired to keep 56. of the bill amount under the Exchange Earners Foreign Currency Account (EEFC). The rates for F/USD and USD/EUR in inter-bank market are quoted as follows: 7 USD USD/EUR Spot 1 month forward 67.8000 - 67.8100 10/11 Paise 21/22 Paise 1.0775 - 1.8000 0.20/0.25 Cents 0.40/0.45 Cents 2 months forward 3 months forward 32/33 Paise 0.70/0.75 Cents Transit Period is 20 days. Interest on post shipment credit is 8% p.a. Exchange Margin is 0.1%. Assume 365 days in a year. You are required to calculate: (i) Exchange rate quoted to the company (ii) Cash inflow to the company (iii) Interest amount to be paid to bank by the company