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Per Capita Income, National Income and Contribution to GDP

Suppose there...

Question

Suppose there are four citizens in a country. The per capita income of the country is 1000 USD. The annual income of the first, second, and third citizens are 800 USD, 1200 USD, and 900 USD, respectively. Find out the annual income of the fourth citizen of the country.

[0.8 marks]

A

900 USD

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B

1000 USD

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C

1050 USD

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D

1100 USD

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Solution

The correct option is D 1100 USD
Per capita income = Total income of a nation/Total population

Here, 1000 = (800 + 1200 + 900 + Income of fourth citizen)/4
4000 = 800 + 1200 + 900 + Income of fourth citizen

Income of fourth citizen = 4000 - 2900 = 1100 USD

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