Question

Calculate the value of imports when the balance of trade is (-) ₹ 800 crore and the value of exports is ₹ 500 crore.

Answer 1

Value of imports is Rs.1300 crore

Explanation:

Given,

Balance of trade = Rs.- 800 crore

Value of export = Rs.500 crore

Value of import = ?

we know that,

Balance of trade =  value of exports - value of imports

Value of imports = value of exports - balance of trade

Value of imports = 500 - ( - 800)

Value of imports = 1300 crore

Value of imports is Rs.1300 crore

Answer 2

$\huge \purple{ \underline{ \boxed{ \red{ \mathbb{ANSWER : }}}}}$

$\red{ \textsf{Value of imports is \orange{Rs. 1300 crore .}}}$

$\huge \purple{ \underline{ \boxed{ \red{ \mathbb{EXPLANATION : }}}}}$

$\large \green{ \underline{ \underline{ \mathbb{GIVEN : }}}}$

$\orange{ \textsf{Balance of trade deficit = Rs. 800 crore}}$

$\orange{ \textsf{Value of exports = Rs. 500 crore}}$

$\large \green{ \underline{ \underline{ \mathbb{FORMULA \: USED : }}}}$

$\orange{ \textsf{Balance of trade = Value of exports - Value of imports }}$

$\large \green{ \underline{ \underline{ \mathbb{SOLUTION : }}}}$

$\red{ \textsf{Balance of trade = Value of exports - Value of imports }}$

$\red{ \textsf{ - 800 crore = 500 crore - Value of imports }}$

$\red{ \textsf{Value of imports = 500 crore + 800 crore }}$

$\red{ \textsf{Value of imports = 1300 crore}}$

$\large \green{ \underline{ \underline{ \mathbb{KNOW \: MORE : }}}}$

$\orange{ \mathbb{BALANCE \: OF \: TRADE : }}$

Balance of trade is the difference between a country's exports and imports of goods .

$\orange{ \mathbb{EXPORTS : }}$

Goods and services produced in one country but supplied to buyers in another are known as exports .

$\orange{ \mathbb{IMPORTS : }}$

An import is a good or service bought in one country that was produced in another country .