Question: Directions: Study the following graph carefully and answer the questions that follow.
Foreign exchange reserves of a country (in million US ) from 1991-92 to 1998-99
For which year, the per cent increase of foreign exchange reserves over the previous year, is the highest?
Options:
A) 1992-93
B) 1993-94
C) 1994-95
D) 1996-97
E) 1997-98
Show Answer
Answer:
Correct Answer: A
Solution:
- Years Percentage increase in reserve during these years compared to previous years
1992-93 $ \frac{(3720-2640)}{2640}\times 100=40.91 $ %
1994-95 $ \frac{(3360-2520)}{2520}\times 100=33.33 $ %
1996-97 $ \frac{(4320-3120)}{3120}\times 100=38.46 $ %
1997-98 $ \frac{(5040-4320)}{4320}\times 100=16.67 $ %
It is clear that percentage increase over previous year is the highest for 1992-93.