The following Table-I shows the sales (in ₹ crore) of Ice-cream in India…
2024
The following Table-I shows the sales (in ₹ crore) of Ice-cream in India during the six years from 2018 to 2023 and Table-II shows the percentage market share of various companies in the sale of Ice-cream in the year 2020. Based on the data in the tables, answer the questions that follow.
Table-I : Year-wise Sale Details of Ice-Cream (in ₹ Crore)
Year | Ice-Cream Sale (₹ Crore) |
2018 | 7500 |
2019 | 8200 |
2020 | 8500 |
2021 | 8000 |
2022 | 8500 |
2023 | 9500 |
Table-II : Company-wise Percentage Market share in the Ice-Cream sale in 2020
Company | Amul | Vadilal | Baskin Robbins | Warna | Kwality | Others |
Percentage | 28% | 13% | 10% | 6% | 35% | 8% |
What is the average annual rate of increase in the Ice-Cream sale in 2023 in comparison to the year 2018 ?
- A.
5.33 %
- B.
26.67 %
- C.
6.67 %
- D.
10 %
Show answer & explanation
Correct answer: A
To find the average annual rate of increase, first determine the total sales in 2018 and 2023. Sales were ₹7500 crore in 2018 and ₹9500 crore in 2023. The total increase is ₹9500 - ₹7500 = ₹2000 crore. The percentage increase is (2000 / 7500) * 100 ≈ 26.67%. The time period is 5 years (2023 - 2018). Therefore, the average annual rate of increase is approximately 26.67% / 5 ≈ 5.33%.