In the year 2005, it was found that 480 million tonnes of rice was produced. Due to draught, the production of rice decreased by 20% in the year 2006 (over the previous year). Find the production of rice in 2006. (in million tonnes).
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No. of crops grown in 2005 = 480million(P)
Rate of interest = 20%
No. of crops grown in 2006 = P(1-r/100)
= 480(4/5)
=384 million tonnes
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