Question

Suppose the Gross Domestic Product (GDP) of Nation X was ₹ 2,000 crores

in 2018-19, whereas the Gross Domestic Product of Nation Y in the same

year was ₹ 120,000 crores. If the Gross Domestic Product of Nation X rises

to ₹ 4,000 crores in 2019-20 and the Gross Domestic Product of Nation Y

rises to ₹ 200,000 crores in 2019-20.

Compare the rate of change of GDP of Nations X and Y, taking 2018-19 as

base year.​

Answer 1

Answer:

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Answer 2

Given:

2018-2019.

The GDP of nation X is Rs2000.

The GDP of nation Y is Rs120000.

2019-2020.

The GDP of nation X is Rs4000.

The GDP of nation Y is Rs200,000.

2018-19 base year.

To find:

Compare the GDP of countries X and Y.

Solution:

The rate of growth of country X exceeds the rate of growth of country Y.

Percentage change in GDP formula: (current year GDP - Previous year GDP)/ Previous year GDP.

2019-2020.

Country X: ((4000-2000)/2000) * 100 = 100%

Country Y:((200,000 - 120,000)/120,000) *100 = 66.667%

Country X's growth is 100% whereas Country Y's growth is 66.667% therefore country X is having higher progress than country Y.

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