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Bar Graph - Questions and Answers

 

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Directions to Solve

 The bar graph given below shows the foreign exchange reserves of a country (in million US $) from 1991-92 to 1998-99. Answer the questions based on this graph. Foreign Exchange Reserves of A Country (in million US $)

1. The foreign exchange reserves in 1996-97 were approximately what percent of the average foreign exchange reserves over the period under review?

Answer: Option D

Explanation:
Average foreign exchange reserves over the given period = [1/8 * (2640 + 3720 + 2520 + 3360 + 3120 + 4320 + 5040 + 3120)] million US $ = 3480 million US $. Foreign exchange reserves in 1996-97 = 4320 million US $. Required Percentage = (4320/3480 * 100)% = 124.14% ≈ 125%

2. The foreign exchange reserves in 1997-98 was how many times that in 1994-95?

Answer: Option D

Explanation:
Required ratio = 5040/3360 = 1.5

3. The ratio of the number of years, in which the foreign exchange reserves are above the average reserves, to those in which the reserves are below the average reserves, is :

Answer: Option C

Explanation:
Average foreign exchange reserves over the given period = 3480 million US $. The country had reserves above 3480 million US $ during the years 1992-93, 1996-97 and 1997-98 i.e., for 3 years and below 3480 million US $ during the years 1991-92, 1993-94, 1994-95, 1995-96 and 1998-99 i.e., for 5 years. Hence, required ratio = 3:5.

4. For which year, the percent increase of foreign exchange reserves over the previous year, in the highest?

Answer: Option A

Explanation:
There is an increase in foreign exchange reserves during the years 1992-93, 1994-95, 1996-97 and 1997-98 as compared to previous year(as shown by bar graph). The percentage increase in reserves during these years compared to previous year are: For 1992-93 = [(3720 - 2640)/2640 * 100]% = 40.91% For 1994-95 = [(3360 - 2520)/2520 * 100]% = 33.33% For 1996-97 = [(4320 - 3120)/3120 * 100]% = 38.46% For 1997-98 = [(5040 - 4320)/4320 * 100]% = 16.67% Clearly, the percentage increases over previous year

5. What was the percentage increase in the foreign exchange reserves in 1997-98 over 1993-94?

Answer: Option A

Explanation:
Foreign exchange reserves in 1997-98 = 5040 million US $ Foreign exchange reserves in 1993-94 = 2520 million US $ Increase = (5040 - 2520) = 2520 million US $ Percentage increase = (2520/2520 * 100)% = 100%