Imagine a country with a population of 15 million. The national income of the country is ₹22,500 million. How much will an average individual earn in this country?

₹1,000

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₹1,500

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₹2,000

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₹2,500

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Solution

The correct option is B ₹1,500
Income earned per person is known as per capita income. To calculate the per capita income, we use the formula:
$N a t i o n a l i n c o m e = 22, 500 m i l l i o n P o p u l a t i o n o f t h e c o u n t r y = 15 m i l l i o n P e r c a p i t a i n c o m e = \frac{22, 500 m i l l i o n}{15 m i l l i o n} = 1, 500$

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Imagine a country with a population of 15 million. The national income of the country is ₹22,500 million. How much will an average individual earn in this country?

The correct option is B ₹1,500 Income earned per person is known as per capita income. To calculate the per capita income, we use the formula: National income = 22,500 millionPopulation of the country = 15 millionPer capita income = 22,500 million15 million=1,500