(I) Calculation for National Overseas Scholarship for Vivek Haldar

Beginning of the Scholarship is 12/01/2015.

Total No. of Days for which the Scholarship can be given for January 2015 is 20 Days.

Equivalence of 20 Days in January 2015 into Month = (20/30) = 0.67 Month

Months for which the Scholarship was given other than January 2015 = February 2015 & March 2015

Total No. of Months for the Scholarship = 0.67(January 2015) +1 (February 2015) + 1(March 2015)

= 2.67 Months

Total Amount of the Scholarship per Annum = US $ 14,000

Amount of Scholarship per Month = US $ 14,000/12

= US $ 1,166.67

Amount of Scholarship for January, February and March 2015 = 2.67 Months * US $ 1,166.67

= US $ 3,115.0089

As per the Exchange Rate on 31.03.2015 between US $(US Dollars) and € (Euros)

1 US $ = € 0.93084

Scholarship Amount for Jan, Feb & March 2015(In Euro Terms) = (US $ 3,115.0089) * (€ 0.93084)

= € 2,899. 574

Amount of Cheque Received for the Months of Jan, Feb & March 2015 = € 2,625.88

Difference in the Scholarship Calculated as per the Exchange Rate on 31.03.2015 and the Cheque

Received = (€ 2,899. 574) – (€ 2,625.88) = € 273.694

(II) Back Calculation for Amount of Cheque Received

Total Amount of the Scholarship Cheque Received = € 2,625.88

Total Amount of the Scholarship Cheque Received (in Dollar Terms) = US $ 2,625.88 * X (Unknown)

Here, X (Unknown Exchange Rate); 1 Euro = X US Dollars as utilized in the Calculation in the Cheque

Total Number of Months (as calculated earlier) = 2.67 Months

Total Amount of Scholarship for the Jan, Feb & March 2015(Calculated in Part (I) )= US $ 3,115.0089 --(1)

Total Amount of Scholarship in US Dollar Terms as in Part (II) above = US $ 2,625.88 * X (Unknown) --- (2)

Hence, Equating (1) and (2)

US $ 3,115.0089 = US $ 2,625.88 * X (Unknown)

Hence, X = 1.18627

Hence, 1 Euro = 1.18627 US Dollars

So, from here, 1 US Dollars = 0.84297 Euros

This, Exchange Rate was trending in the Month of February 2015 as per the Money Exchange History.