Check out Paypal Fee Calculator and official transaction fees on Paypal site. Today's exchange rate is '1 US Dollar = 43.6897 Indian Rupees'. See Currency Converter.
for $1 you will get $0.67 Conversion rate changes according to the market value. You can check them in your paypal account itself. Login and go to withdraw tab and click currency conversion link.
I guess Paypal has their own conversion rate than a standard rates. Is that correct? Bcoz once I checked $1=47.50 whereas in Paypal it comes to around 44 INR