Comprehension
Answer these questions based on the data given in the table below. The table shows the trends in the relative value in the market of select groups of commodities (1999- 2003):
Years | |||||
| Commodities | 1999 | 2000 | 2001 | 2002 | 2003 |
| Milk | 95 | 92 | 86 | 72 | 76 |
| Cereals | 75 | 68 | 62 | 66 | 60 |
| Fats and Oils | 76 | 70 | 68 | 62 | 58 |
| Gas | 82 | 76 | 100 | 98 | 96 |
| Vegetables | 80 | 62 | 64 | 84 | 88 |
| Fruits | 79 | 74 | 72 | 66 | 73 |
Question: 1
What is the average difference in the relative value of the six commodities in 2003 compared to 1999?
What is the average difference in the relative value of the six commodities in 2003 compared to 1999?
Updated On: Sep 25, 2024
- +8
- -5
- -6
- +4
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The Correct Option is C
Solution and Explanation
The correct option is (C): -6
Explanation:
Difference in the relative value of the six commodities in 2003 compared to 1999
\(=(76 − 95) + (60 − 75) + (58 − 76) + (96 − 82) + (88 − 80) + (73 − 79)\)
\(=(−19) + (−15) + (−18) + (14) + (8) + (−6) = −36\)
Required average = \(-\frac{36}{6}=-6\)
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Question: 2
Which value showed the greatest amount of change in 1999 compared to 2003?
Which value showed the greatest amount of change in 1999 compared to 2003?
Updated On: Sep 25, 2024
- Milk
- Gas
- Fats & Oils
- Vegetables
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The Correct Option is A
Solution and Explanation
The correct option is (A): Milk
Explanation:
Amount of change in 1999 compared to 2003
\(\frac{95-76}{76}\times100=25\%\)
\(\frac{96-82}{82}\times100\approx14.5\%\)
\(\frac{76-58}{58}\times100\approx30\%\)
\(\frac{88-80}{80}\times100\approx9.09\%\)
Explanation:
Amount of change in 1999 compared to 2003
\(\frac{95-76}{76}\times100=25\%\)
\(\frac{96-82}{82}\times100\approx14.5\%\)
\(\frac{76-58}{58}\times100\approx30\%\)
\(\frac{88-80}{80}\times100\approx9.09\%\)
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Question: 3
Which commodity showed the least variatron in value over the period 1999-2003?
Which commodity showed the least variatron in value over the period 1999-2003?
Updated On: Sep 25, 2024
- Cereals
- Gas
- Vegetables
- Fruits
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The Correct Option is D
Solution and Explanation
The correct option is (D): Fruits
Explanation:
The commodity which showed the least variation in value over the period 1999-2003 is the one which has the least difference in value between 1999 and 2003, which clearly is fruits: \(\frac{79-73}{79}\times\approx7.5\%\)
Explanation:
The commodity which showed the least variation in value over the period 1999-2003 is the one which has the least difference in value between 1999 and 2003, which clearly is fruits: \(\frac{79-73}{79}\times\approx7.5\%\)
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Question: 4
For which commodities is there a clearly discernible trend of decreasing relative value between 1999-2003?
For which commodities is there a clearly discernible trend of decreasing relative value between 1999-2003?
Updated On: Sep 25, 2024
- Cereals and Gas
- Milk, Cereals, Fats & Oils
- Milk, Gas, Fats & Oils
- Vegetables,Fats & Oils
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The Correct Option is B
Solution and Explanation
The correct option is (B): Milk, Cereals, Fats & Oils
So, Milk, Cereals, Fats & Oils commodities is there a clearly discernible trend of decreasing relative value between 1999 - 2003.
So, Milk, Cereals, Fats & Oils commodities is there a clearly discernible trend of decreasing relative value between 1999 - 2003.
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