Question 74

Read the data given in the table and answer the questions
If the GDP of the country was $8 trillion at the end of 2011, what was it at the beginning of 2013?

Solution

GDP at the beginning of 2013 is equal to the GDP at the end of 2012

=> GDP growth rate in 2012 = 7%

GDP at the end of 2011 = GDP at the beginning of 2012 = $8 trillion

$$\therefore$$ GDP at the beginning of 2013 = $$\frac{100 + 7}{100} \times 8$$ trillion

= $$\frac{214}{25}$$ = $8.56 trillion

=> Ans - (A)

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