If India’s exports increased by 20% from 1998-1999 to 2002-03, then find the approximate percentage increase in the exports of the engineering goods from 1998-1999 to 2002-2003.

Solution

Let India's exports in 1998-99 be Rs. 100 and thus in 2002-03 = Rs. 120

Thus, Engineering goods in 1998-99 = $$\frac{12.5}{100}\times\frac{73.6}{100}\times100=\frac{73.6}{8}=9.2$$

Engineering goods in 2002-03 = $$\frac{16.6}{100}\times\frac{77.4}{100}\times120=\frac{73.6}{8}=15.4$$

$$\therefore$$ Percentage increase = $$\frac{(15.4-9.2)}{9.2}\times100\approx68\%$$

=> Ans - (A)

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