Iift 2017 Question 98
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IIFT
India's import in 2017 = import in 2016*(1 + (10/100)) (Since growth rate is 10 percent)
= 350 * 1.1 = 385 (USD in billions)
India's export in 2017 = export in 2016*(1 + (10/100)) (Since growth rate is 10 percent)
= 250*1.1 = 275 (USD in billions)
New sectoral share of fuel in imports = 25+5 =30 percent
New sectoral share of fuel in exports = 10+5 =15 percent
India's fuel imports in 2017 = 385*30/100 = 115.5 (USD in billion)
India's fuel exports in 2017 = 275*15/100 = 41.25 (USD in billion)
Trade deficit of fuel = Fuel import - fuel export = 115.5 - 41.25 = 74.25 (USD in billions)