India’s GDP is Rs 250 lakh crore. The tertiary sector currently contributes 54% of GDP. If its share is expected to increase by 1.5 percentage points each year for the next 3 years, what will be the monetary contribution of the tertiary sector after 3 years? Give your answer in Rs lakh crore, rounded to two decimal places.
Answer
146.25
The correct answer is 146.25 — Round to two decimal places (already 146.25) and present as the answer.
Step-by-step solution
- Calculate the present monetary contribution: 54% of 250 = 0.54 × 250 = 135.0 lakh crore.
- Determine the future share after 3 years: increase of 1.5% points per year → 3 × 1.5% = 4.5% points. Future share = 54% + 4.5% = 58.5% = 0.585.
- Compute the projected contribution: 0.585 × 250 = 146.25 lakh crore.
- Round to two decimal places (already 146.25) and present as the answer.
Common mistake: Treating the 1.5% increase as 1.5% of the existing share each year instead of percentage points, leading to a lower projected value.
Concept tested: Future contribution of a sector to GDP
Published · How this solution was prepared and checked
Related questions
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