Question 24

Read the data and answer the given questions

If the GDP of the country was $5 trillion at the end of 2013, what was it at the beginning of 2015?

Solution

GDP at the beginning of 2015 is equal to the GDP at the end of 2014

=> GDP growth rate in 2014 = 4%

GDP at the end of 2013 = GDP at the beginning of 2014 = $5 trillion

$$\therefore$$ GDP at the beginning of 2015 = $$\frac{100 + 4}{100} \times 5$$ trillion

= $$\frac{520}{100}$$ = $5.2 trillion

=> Ans - (C)

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