The table below embodies data on the oil import (in million tonnes) from six…
2020
The table below embodies data on the oil import (in million tonnes) from six different countries over the years 2015 to 2019. In accordance with the table, answer the questions
What is the approximate average of percentage increase or decrease in oil import from Kuwait over its previous year for the given period?
- A.
9.61%
- B.
5%
- C.
15%
- D.
21%
Show answer & explanation
Correct answer: A
For Kuwait, the oil import values are 13.9, 14.8, 11.8, 11.5 and 17.8 million tonnes from 2015 to 2019.
Year-wise percentage changes over the previous year are:
2016: ((14.8 - 13.9) / 13.9) × 100 = 6.475%
2017: ((11.8 - 14.8) / 14.8) × 100 = -20.27%
2018: ((11.5 - 11.8) / 11.8) × 100 = -2.54%
2019: ((17.8 - 11.5) / 11.5) × 100 = 54.78%
Average percentage change = (6.475 - 20.27 - 2.54 + 54.78) / 4 = 9.61% approximately.
Hence, the correct answer is 9.61%.