Comprehension
The table given below gives the annual details of loans from rural banks and agricultural loans over the years 1970 to 1983. Using this data answer the questions that follow
| 2*Year | Loan from Rural Banks | No. ($'000$) | ||
|---|---|---|---|---|
| Number of rural banks | Average number of loans | Average size (in Rs.) | ||
| $1970$ | $90$ | $28$ | $109$ | $18.3$ |
| $1971$ | $115$ | $39$ | $133$ | $20.4$ |
| $1972$ | $130$ | $52$ | $178$ | $25.1$ |
| $1974$ | $260$ | $98$ | $243$ | $41.2$ |
| $1975$ | $318$ | $121$ | $283$ | $51.4$ |
| $1980$ | $605$ | $288$ | $567$ | $135.7$ |
| $1981$ | $665$ | $312$ | $622$ | $152.8$ |
| $1983$ | $840$ | $380$ | $711$ | $211.6$ |
Question: 1
In 1974, the amount of agricultural loans formed what percentage of the total loans?
In 1974, the amount of agricultural loans formed what percentage of the total loans?
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When finding percentages, ensure consistent units before division.
Updated On: Aug 6, 2025
- 85%
- 71%
- 77%
- Cannot be determined
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The Correct Option is B
Solution and Explanation
In 1974:
Total loans from rural banks = Number of rural banks $\times$ Average number of loans $\times$ Average size
$= 260 \times 98 \times 243 = 6,191,640$ (in Rs.) thousand $= Rs.\ 6,191.64$ million
Agricultural loans (given) = Rs.\ 34.54 million
Percentage = $\frac{34.54}{48.54} \times 100 \approx 71%$
Total loans from rural banks = Number of rural banks $\times$ Average number of loans $\times$ Average size
$= 260 \times 98 \times 243 = 6,191,640$ (in Rs.) thousand $= Rs.\ 6,191.64$ million
Agricultural loans (given) = Rs.\ 34.54 million
Percentage = $\frac{34.54}{48.54} \times 100 \approx 71%$
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Question: 2
From the given data, the number of rural loans up to 1980 formed approximately what percentage of those in 1983?
From the given data, the number of rural loans up to 1980 formed approximately what percentage of those in 1983?
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Multiply number of banks by average loans to get total number of loans.
Updated On: Aug 6, 2025
- 112%
- 80%
- 97%
- Cannot be determined
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The Correct Option is B
Solution and Explanation
1980: Total loans = $605 \times 288 = 174,240$
1983: Total loans = $840 \times 380 = 319,200$
Percentage = $\frac{174,240}{319,200} \times 100 \approx 80%$
1983: Total loans = $840 \times 380 = 319,200$
Percentage = $\frac{174,240}{319,200} \times 100 \approx 80%$
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Question: 3
Which of the following pairs of years showed the maximum increase in the number of rural bank loans?
Which of the following pairs of years showed the maximum increase in the number of rural bank loans?
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Always multiply before subtracting when comparing growth between years.
Updated On: Aug 6, 2025
- 1971-72
- 1974-75
- 1970-71
- 1980-81
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The Correct Option is D
Solution and Explanation
Increase in number of loans between years:
1970–71: $115 \times 39 - 90 \times 28 = 4,485 - 2,520 = 1,965$
1971–72: $130 \times 52 - 115 \times 39 = 6,760 - 4,485 = 2,275$
1974–75: $318 \times 121 - 260 \times 98 = 38,478 - 25,480 = 12,998$
1980–81: $665 \times 312 - 605 \times 288 = 207,480 - 174,240 = 33,240$ (maximum)
1970–71: $115 \times 39 - 90 \times 28 = 4,485 - 2,520 = 1,965$
1971–72: $130 \times 52 - 115 \times 39 = 6,760 - 4,485 = 2,275$
1974–75: $318 \times 121 - 260 \times 98 = 38,478 - 25,480 = 12,998$
1980–81: $665 \times 312 - 605 \times 288 = 207,480 - 174,240 = 33,240$ (maximum)
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Question: 4
What is the value of the agricultural loans in 1983 at 1970 prices?
What is the value of the agricultural loans in 1983 at 1970 prices?
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To convert value to base year prices, multiply by $\frac{\text{Base Year CPI}}{\text{Current Year CPI}}$.
Updated On: Aug 6, 2025
- Rs.\ 326
- Rs.\ 264
- Rs.\ 305
- None of these
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The Correct Option is B
Solution and Explanation
1983 agricultural loans value = Rs.\ 915.7 million
CPI 1983 = 149, CPI 1970 = 43
Value at 1970 prices = $\frac{915.7}{149} \times 43 \approx Rs.\ 264$ million
CPI 1983 = 149, CPI 1970 = 43
Value at 1970 prices = $\frac{915.7}{149} \times 43 \approx Rs.\ 264$ million
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Question: 5
In which year was the number of rural bank loans per rural bank least?
In which year was the number of rural bank loans per rural bank least?
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When given directly, the average number of loans per bank equals loans per bank.
Updated On: Aug 6, 2025
- 1974
- 1971
- 1970
- 1975
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The Correct Option is C
Solution and Explanation
Loans per bank = Average number of loans
From the table: least average number = 28 in 1970
From the table: least average number = 28 in 1970
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Question: 6
What is the simple annual rate of increase in the number of agricultural loans from 1970 to 1983?
What is the simple annual rate of increase in the number of agricultural loans from 1970 to 1983?
Show Hint
For simple annual rate, divide total % increase by number of years.
Updated On: Aug 6, 2025
- 132%
- 81%
- 75%
- 105%
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The Correct Option is B
Solution and Explanation
1970 agricultural loans = 18.3 thousand
1983 agricultural loans = 211.6 thousand
Increase = $211.6 - 18.3 = 193.3$ thousand
% Increase = $\frac{193.3}{18.3} \times 100 \approx 1056%$ (over 13 years)
Simple annual rate = $\frac{1056}{13} \approx 81%$ per year
1983 agricultural loans = 211.6 thousand
Increase = $211.6 - 18.3 = 193.3$ thousand
% Increase = $\frac{193.3}{18.3} \times 100 \approx 1056%$ (over 13 years)
Simple annual rate = $\frac{1056}{13} \approx 81%$ per year
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