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Capital gain on forign mutual fund

This query is : Resolved 
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(Querist)
12 June 2013 Please solve my problem:
If a person has purchased 5000 units of foreign mutual fund in 2007 @$10 per unit when exchange rate was 1$=Rs45. He has sold these 5000 units in 2013 @$12 per unit when exchange rate is 1$=Rs55. How the capital gain shoud be computed.
Further suggest whether capital gain should be computed considering the difference of exchange rate.(Assuming there is no indexation)
Whether the solution shoud be like this:-
sale 5000*12*55= 3300000
- purchase 5000*10*45= 2250000
Long term capital gain=1050000

or shouid be like this:-
sale 5000*12 =60000
-purchase 5000*10 =50000
Long term capital gain=10000*55
=5500000
Please help..
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kavita

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kavita (Querist)
17 June 2013 Plzz rply.
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