Per capita means per head or per person.

now, if a country has a small GDP hmmm say for the sake of example, $1000, and it has 1000 residents, then the per capita is $1000/1000 or a buck each.

now, $1000 is a really tiny GDP, but, if the population is say hmm 20 folks only, then the per capita amount is $1000/20, or $50 per person, now, that's a large "per capita" figure, more so than $1 per person, even though the GDP never changed, it was all along $1000.

so, if the population is comparitively small, the per capita is large, I think a good example of that is Switzerland.

sidenote:

bear in mind that per capita figures are very misleading, since you could have a tiny portion of the population making huge amounts and others making little, like in the US, and the per capita is very inaccurate to reflect the economy wealth distribution.

7 0

3 years ago

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jamerra received a $3,00 car loan. she plans on paying off the loan in 2 years. at the end of 2 years, jamerra will have paid $4

leonid [27]

The rate of interest is 75 % per year

Solution:

Given that, Jamerra received a $3,00 car loan

she plans on paying off the loan in 2 years

Jamerra will have paid $450 in interest

Therefore, we get

Principal = $ 300

Number of years = 2

Simple Interest = $ 450

Rate of interest = ?

The simple interest is given by formula:

$simple\ Interest = \frac{p \times n \times r}{100}$

Where,

"p" is the principal and "n" is the number of years and "r" is the rate of Interest

Substituting the given values we get,

$450 = \frac{300 \times 2 \times r}{100}\\\\450 = 3 \times 2 \times r\\\\6r = 450\\\\r = \frac{450}{6}\\\\r = 75$

Thus rate of interest is 75 % per year

5 0

2 years ago