Question

Food grain production in India in 1994 was 1520 lakh tonnes. If the product is increasing at a constant rate of 2.8% per annum, what is the production expected to be in 2010 A.D. on that basis ? (Given that (1.028)16 = 1.55557) 

(a) 2265 lakh tonnes 

(b) 2300.5 lakh tonnes 

(c) 2364.5 lakh tonnes 

(d) 3000 lakh tonnes

Answer 1

(c) 2364.5 lakh tonnes

Food grain production in 1994 = 1520 lakh tonnes 

Rate of increase of production = 2.8% p.a. 

Number of years = 16 

\(\therefore\) Food grain production in 2010 A.D.

= \(\Big[\)1520 x \(\big(1+\frac{2.8}{100}\big)^{16}\)\(\Big]\)lakh tonnes

= 1520 × (1.028)¹⁶ lakh tonnes

= (1520×1.55557) lakh tonnes

= 2364.4664 lakh tonnes

= 2364.5 lakh tonnes