If GDP of a country in the year 2020 is Rs 1200 crores, and in 2021 it increased to Rs 1300 crores,…
The growth rate is approximately 8.3%. The increase is \(1300-1200=100\) crore, so the percentage increase is \((100/1200)\times100\) \(=25/3\%\), or \(8.333\ldots\%\).
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If GDP of a country in the year 2020 is Rs 1200 crores, and in 2021 it increased to Rs 1300 crores, then the growth rate is approximately:
Answer and explanation
Correct answer B
The growth rate is approximately 8.3%. The increase is crore, so the percentage increase is , or .
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Kerala SET (LBS Centre)