Question

Bensalem is a small country; it had only 10 people and the GDP of its economy was $10,000 in 2014. Amazingly, the GDP in Bensalem in 2015 increased to $20,000 while the population increased by 50 percent. As a result, GDP per capita in Bensalem in 2015:

Answer 1

Answer:

The GDP will increased by 33.33% in 2015

Explanation:

2014 GDP 10,000

population 10

GDP per capital 10,000 / 10 = 1,000

Then, 2015 GDP 20,000

population: 10 + 50% = 15

GDP per capita : 20,000 / 15 = 1.333,33

percentage increase of the GDP per capita:

1,333.33 / 1,000 - 1 = 0.33333 = 33.33%

Answer 2

Answer:

Bensalem's GDP per capita increased to $1,333, which is equivalent to a 33.3% increase.

Explanation:

Bensalem's GDP = $10,000

Bensalem's population = 10

Bendalem's GDP per capita = $10,000 / 10 = $1,000

If Bensalem's GDP increases to $20,000 and its population increases to 15, then its GDP per capita = $20,000 / 15 = $1,333

The increase represents a: [($1,333 - $1,000) / $1,000] x 100 = 33.3% increase =