Question

Supposing if in 2020, the average value of goods sold per container was same as that of 2019, then what would be the new approximate value of total exports (in crores) in 2020 if number of containers in 2020 remains unchanged?

• A. 346
• B. 555
• C. 500
• D. 388

Answer 1

Answer:

D. 388

1. Extract the data from the graph:

• For 2019:

• Total Value = 280 crores

• Quantity = 130 thousand containers

• For 2020:

• Quantity = 180 thousand containers

2. Calculate the average value per container in 2019:

$\text{Average\ Value\ per\ thousand\ containers}=\frac{\text{Total\ Value\ in\ 2019}}{\text{Quantity\ in\ 2019}}=\frac{280}{130}\approx 2.1538\text{\ crores}$

3. Calculate the new total export value for 2020:

Since the average rate remains the same as 2019 and the number of containers in 2020 is 180 thousand:

$\text{New\ Value\ for\ 2020}=2.1538\times 180=\mathbf{387.69}\text{\ crores}$

Answer:

The new approximate value of total exports in 2020 would be 388 crores (or approximately 387.7 crores).