GATE EE 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 7% 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
Let the GDP in 2012 be . Then the GDP in 2013 is .
Exchange rate in 2012: .
Exchange rate in 2013: .
GDP in USD (2012) .
GDP in USD (2013) .
Ratio of GDP in USD (2013 to 2012) .
Percentage change .
The closest option is a decrease of 11%.
Exchange rate in 2012: .
Exchange rate in 2013: .
GDP in USD (2012) .
GDP in USD (2013) .
Ratio of GDP in USD (2013 to 2012) .
Percentage change .
The closest option is a decrease of 11%.
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