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Question

Per capita income in country X increased from ₹8000 in 1996 to ₹10,000 in 1997.

What was the per capita income growth rate of country X?

A
25%
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B
30%
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C
36%
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D
50%
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Solution

The correct option is A 25%
Growth rate represents the change or growth that has taken place in certain variables within a specific time period. The per capita income growth rate can be expressed as the percentage change in per capita income divided by the original per capita income. It can be expressed as,

Per capita income growth rate = (Change in per capita income / Original per capita income) × 100

Change in per capita income between 1996 and 1997 = ₹10,000 – ₹8000 = ₹2000

Original per capita income = ₹8000

Therefore, per capita income growth rate = (2000/8000) × 100 = 25%

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