Question

Food grain production in India in $1994$ was $1520$ lakh tonnes. If the product is increasing at a constant rate of $2.8\%$ per annum, what is the production expected to e in $2010$ A.D. on that basis ?

• A. $2265$ lakh tones
• B. $2300.5$ lakh tonnes
• C. $2364.5$ lakh tonnes
• D. $3000$ lakh tonnes

Answer 1

Answer: (C)

$2364.5$ lakh tonnes

$\Rightarrow$ Initial amount is 1520 lakh tonnes.

$\Rightarrow$ Time is between 1994 to 2010 means 16 years.

$\Rightarrow$ Rate is 2.8%

$\Rightarrow$ $Finalamount=Initialamount\times (1+rate{)}^{time}$

$\Rightarrow$ $1520\times (1+\frac{2.8}{100}{)}^{16}$

$\Rightarrow$ $1520\times (\frac{1028}{1000}{)}^{16}=1520\times (1.028{)}^{16}$

$\Rightarrow$ $2364.5lakhtonnes$

$\therefore$ The production expected to be in 2010 is $2364.5lakhtonnes$