IIFT 2012 Question Paper Question 9

Instructions

Answer the questions on the basis of the table given below Table: Production of Major Minerals and Metals (Million Tonnes)

Question 9

If annual average growth rate in production exhibited during 2006 to 2011 continues for next 4 years, then what will be the approximate production of aluminium in the year 2015?

Solution

The average growth rate of aluminum from 2006-2011 = $$\dfrac{\frac{105-75}{75}}{5} = 8\%$$
Thus, the average production of aluminum in 2015 = 105*(1+0.08*4) = 140 tonnes
Hence, option B is the correct answer.



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