Question
If the foreign exchange reserves in the beginning of 1998-99 were Rs.11341 bn and Rs.2961 bn were withdrawn by Chinese residing abroad, then what will be the reserve at the end of year after adjusting trade deficit of the year?
Answer: Option C
:
C
Strategy- Change the scale to minimize calculation (strike out the last 2 from billion figures and last 5 from million figures)
Trade Deficit for China= 175 - 140≈35 billion
Initial foreign exchange reserve = 11341
After withdrawal = 113 - 29 = 84
After adjusting trade deficit, 84 - 35 ≈ 49
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:
C
Strategy- Change the scale to minimize calculation (strike out the last 2 from billion figures and last 5 from million figures)
Trade Deficit for China= 175 - 140≈35 billion
Initial foreign exchange reserve = 11341
After withdrawal = 113 - 29 = 84
After adjusting trade deficit, 84 - 35 ≈ 49
Was this answer helpful ?
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