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30 May, 21:16

A country's GDP (in billions) was $5,690 in 2010 and $5,899 in 2011. What is the growth rate of GDP?

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  1. 30 May, 23:34
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    3.67%

    Explanation:

    Given that,

    Country's GDP in 2010 = $5,690 billion

    Country's GDP in 2011 = $5,899 billion

    Growth rate of GDP:

    = [ (GDP in 2011 - GDP in 2010) : GDP in 2010] * 100

    = [ ($5,899 - $5,690) : $5,690] * 100

    = ($209 : $5,690) * 100

    = 0.0367 * 100

    = 3.67%

    Therefore, the country's growth rate of GDP is 3.67%.
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