Certainly! Let's solve this problem step by step:
1. Determine the total cost in Nepali rupees without commission:
Milan needs [tex]$1000 American dollars. The selling rate is \(1\$[/tex] = \text{Rs} 128.10\). To find out how many Nepali rupees are needed for [tex]$1000 American dollars without considering the commission, we multiply the amount needed by the selling rate:
\[
\text{Total Cost Without Commission} = 1000 \times 128.10 = \text{Rs} 128100.0
\]
2. Calculate the commission:
The bank charges a 1% commission on the total cost. To calculate the commission, we need to find 1% of Rs 128100.0:
\[
\text{Commission} = 0.01 \times 128100.0 = \text{Rs} 1281.0
\]
3. Calculate the total cost with commission:
Now, we add the commission to the total cost without commission to get the total amount Milan needs to pay in Nepali rupees:
\[
\text{Total Cost With Commission} = 128100.0 + 1281.0 = \text{Rs} 129381.0
\]
Therefore, Milan will require Rs 129381.0 to get $[/tex]1000 American dollars, including the bank's 1% commission.
