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Instructions
The following table gives demand and supply of steel for the years 2003 to 2008. Surplus is defined as ‘Supply - Demand’. Read the table and answer the questions.
Question 69
For the years 2003 to 2006 increase in surplus as compared to preceding year is highest in
Solution
Surplus = Supply - Demand
2003 surplus = 49.2-45.1= 4.1
2004 surplus = 52.8 - 43.5 = 9.3, Hence, the increase = 9.3-4.1 = 5.2
2005 surplus = 50.1 - 40.7 = 9.4, Hence, the increase = 9.4-9.3 = 0.1
2006 surplus = 31.9 - 30.2 = 1.7, increase = 1.7-9.4 = - 7.7
Hence, it is highest in 2004.
