Given the following information, what is the rate of change in the exchange rate between (GBP) and (JPY) according to the International Fisher Effect?

Real interest rate in UK and Japan: 2%

Inflation in UK: 4%

Nominal interest rate in Japan: 3%

Spot rate: 200/

Which of the following is correct:

GBP appreciates by 3.0196%.

Since the real interest rates are same, there won't be any changes in the exchange rate.

GBP appreciates 3.08%.

JPY appreciates by 3.08%.

JPY appreciates by 3.0196%.