Question

By how much percentage has production changed (approximately) in 2003 as compared to its value for 2000?

• A. \(-3\%\)
• B. \(+5%\)
• C. \(0\%\)
• D. \(+7\%\)
• A. Work force
• B. Productivity
• C. Production
• D. Both (1) and (2)
• A. Workforce and productivity
• B. Workforce and production
• C. Production and productivity
• D. None of these

Answer 1

The Correct Option is A

Production in year \(2000 = 17213 × 83.2 = \text {Rs.} \ 14,32,121.6\)
Production in year \(2003 = 12338 × 113 = \text {Rs.} \ 13,94,194\)
Now, % Change in production,
\( = \frac {13,94,194-14,32,121.6}{14,32,121.6} \times 100\)
\(= -2.6\%\)
\(≃ 3\%\)

So, the correct option is (A): \(-3\%\).

Answer 2

Percentage Change in productivity \(= \frac {113-83.2}{83.2} \times 100 = 35.8 \%\) (Maximum)

Percentage Change in workforce \(= \frac {17213-12338}{17213} \times 100 = 28.3\%\)

Production in year \(2000 = 17213 \times 83.2 = Rs.\ 14,32,121.6\)

Production in year \(2003 = 12338 × 113 = Rs.\ 13,94,194\)

% Change in production \(= \frac {14,32,121.6-13,94,194}{14,32,121.6} \times 100 = 2.6\%\)

So, the correct option is (B): Productivity.

Answer 3

Workforce is directly proportional to production, indicating that both have followed the same trend. Both experienced a percentage decline between 2000 and 2003.

So, the correct option is (B): Workforce and production.