GATE CS 2014 Set 3 — Question 8
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General Aptitude → Quantitative Aptitude → Ratios, Percentages, Powers, Exponents & Logarithms
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Question
The Gross Domestic Product (GDP) in Rupees grew at during 2012-2013. For international comparison, the GDP is compared in US Dollars (USD) after conversion based on the market exchange rate. During the period 2012-2013 the exchange rate for the USD increased from Rs. 50/ USD to Rs. 60/ USD. India’s GDP in USD during the period 2012-2013
Correct answer
(D) decreased by 11%
Solution
To find the percentage change in India's GDP in USD during the period 2012-2013, we can define the variables for the initial and final states.Let:
- be the GDP in Rupees at the start of the period (2012).
- be the GDP in Rupees at the end of the period (2013).
- be the exchange rate at the start of the period: .
- be the exchange rate at the end of the period: .
Step 1: Express the final GDP in Rupees
The GDP in Rupees grew by during 2012-2013:Step 2: Calculate the GDP in USD for both periods
To convert the GDP from Rupees to USD, we divide the GDP in Rupees by the exchange rate (Rs./USD):- Initial GDP in USD ():
- Final GDP in USD ():
Step 3: Calculate the percentage change in USD GDP
The percentage change in GDP in USD is given by:Substitute the expressions for and :Now, calculate the percentage change:A change of approximately represents a decrease of about 11%.Correct Answer: Option DContinue learning with Success Tracker
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