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24 May 2024, 00:55
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
75% (00:37) correct
25% (01:15) wrong based on 8 sessions
History
Date
Time
Result
Not Attempted Yet
In 2008 the value of exports was approximately what percent greater than the value of imports?
A. 40%
B. 60%
C. 70%
D. 120%
E. 140%
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06 Jun 2024, 01:03
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In 2008 imports = $5 Billion.
and Exports = $12 Billion.
Thus we have Exports 2.4 times the imports. Hence Exports are 140% more than imports.
and Exports = $12 Billion.
Thus we have Exports 2.4 times the imports. Hence Exports are 140% more than imports.
17 Aug 2024, 13:04
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Official Explanation
The difference between the value of exports and the value of imports expressed as a percent of the value of imports is
((Value of exports) - (Value of Imports)/ (Value of Imports ))*100%
In 2008 the value of imports was approximately $5 billion and the value of exports was approximately $12 billion, so the value of the fraction is approximately \(\frac{12-5}{5}\), or 7/5.
Since the fraction is greater than 1, expressing it as a percent will give a percent greater than 100. The fraction is equal to 1.4, or 140 percent.
The correct answer is Choice E.
The difference between the value of exports and the value of imports expressed as a percent of the value of imports is
((Value of exports) - (Value of Imports)/ (Value of Imports ))*100%
In 2008 the value of imports was approximately $5 billion and the value of exports was approximately $12 billion, so the value of the fraction is approximately \(\frac{12-5}{5}\), or 7/5.
Since the fraction is greater than 1, expressing it as a percent will give a percent greater than 100. The fraction is equal to 1.4, or 140 percent.
The correct answer is Choice E.
