Answer these questions based on the data given below: The figures below present annual growth rate, expressed as the % change relative to the previous year, in four sectors of the economy of the Republic of Reposia during the 9 year period from 1990 to 1998. Assume that the index of production for each of the four sectors is set at 100 in 1989 Further, the four sectors: manufacturing, mining and quarrying, electricity, and chemicals, respectively, constituted 20%, 15%, 10%, 15 % of total industrial production 1989.
The percentage increase of production in-the four sectors, namely, manufacturing, mining & quarrying, electricity and chemicals, taken together, in 1994, relative to 1989, is approximately:
Let first approximately calculate production in-the four sectors, manufacturing, mining & quarrying, electricity and chemicals in 1994 we get , 25.4 , 18 , 14.55 , 18.85 respectively . Hence overall growth = 76.8. Now The percentage increase of production in-the four sectors, taken together, in 1994, relative to 1989, is approximately = (76.8-60)/60 which is approx. 25 %. Hence option A.
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