Question

The population of City X increased from 2 million in the year 2000 to 2.5 million in 2015 and the gross domestic product of the city in 2000 was 3/8 less than that in 2015. What was the approximate percent change, rounded to the nearest integer if required, in the per capita gross domestic product of the city from 2000 to 2015?
A 22% decrease
B 22% increase
C 28% increase
D 53% increase
E 113% increase

Answer 1

Answer:

The answer is 22% decrease. (option A)

Step-by-step explanation:

Given that,

2015 population = 2.5 million

2000 population = 2 million

Let GDP (gross domestic product) for the  year 2015 = X

then, GDP for the year 2000 = 5/8 X (i.e 3/8 less than that of 2015)

and the per capita GDP for 2015 = 2500000  / X

Also, the per  capita GDP for 2000 = 2000000 / (5X /8)

                                                          = 3200000 / X

Comparing the per capita GDP of 2015 to that of 2000, there is a decrease from 2000 to 2015.

decrease  = year 2000 per capita GDP - year 2015 per capita GDP          

                 = 3200000 / X - 2000000 / X

                 = 700000 / X

The percentage decrease can be calculated as

percentage decrease = decrease *100 / year 2000 per capita GDP

                 = (700000 / X) *100 / (3200000/X)

                 = 21.875

                 = 22% decrease