If a country's total income is ₹15,000 crore and its population is 10 crore, what is its per capita income?
Answer and explanation
Correct answer: ₹1,500
Per capita income is calculated by dividing total income by total population. Therefore, ₹15,000 crore ÷ 10 crore = ₹1,500 per person. The crore units cancel because both amounts use crore. Option B is correct; ₹1,000 and ₹15,000 use incorrect calculations, while ₹1,50,000 results from multiplying instead of dividing.
Frequently asked questions
What is the correct answer to this question?
₹1,500
Why is this the correct answer?
Per capita income is calculated by dividing total income by total population. Therefore, ₹15,000 crore ÷ 10 crore = ₹1,500 per person. The crore units cancel because both amounts use crore. Option B is correct; ₹1,000 and ₹15,000 use incorrect calculations, while ₹1,50,000 results from multiplying instead of dividing.
Which subject and chapter does this question cover?
This is a Class 11 Economics question. Chapter: National Income and Related Aggregates. Topic: GDP and Welfare.
