Question 99

Refer the below data table and answer the following question.

If the GDP of the country was $1 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 = $1 trillion

$$\therefore$$ GDP at the beginning of 2013 = $$\frac{100 + 7}{100} \times 1$$ trillion

= $$\frac{107}{100}$$ = $1.07 trillion

=> Ans - (A)

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