Question

Surplus of balance of trade of one country is ₹ 3,000 crore. If the value of export is ₹ 8,000 crore, calculate the value of import.

Answer 1

Value of imports is Rs.5000 crore

Explanation:

Given,

Balance of trade = Rs.3000 crore

Value of exports = Rs.8000 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

= 8000 - 3000

= 5000 crore

Value of imports is Rs.5000 crore

Answer 2

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

$\red{ \textsf{Value of imports is \orange{Rs. 5000 crore .}}}$

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

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

$\orange{ \textsf{Balance of trade = Rs. 3000 crore}}$

$\orange{ \textsf{Value of exports = Rs. 8000 crore}}$

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

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

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

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

$\red{ \textsf{ 3000 crore = 8000 crore - Value of imports }}$

$\red{ \textsf{Value of imports = 8000 crore - 3000 crore }}$

$\red{ \textsf{Value of imports = 5000 crore}}$

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

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

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 .