In an economy, the agriculture, industrial and services sectors have initial shares of 50, 20 and 30 percent respectively in the total GDP. They also subsequently grow at the following constant annual rates for the next 60 years : Agriculture-2 percent; Industry-5 percent; and Services-6 percent per annum respectively.
Starting from the base year, when will the services sector's share in GDP exceed that of agriculture?
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Quantitative aptitude and data reasoning has come up 92 times in 6 exams since 2008.
This question is on Interest, growth rates and compounding, part of Quantitative aptitude and data reasoning in Mathematics.
Simple and compound interest and the growth-rate measures used for economies.
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Question from the JNU SSS 2018 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.