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Get access to the detailed solutions to the previous years questions asked in IIM IPMAT exam
We are given the following table,
This table compares the GDP, GDP per capita, and population of eight countries, all of which are referenced using a consistent set of units.
Specifically, the GDP values are all given with the same country as the reference point (The reference point being Country 9)
Similarly, the GDP per capita among the eight countries in the table is given using the same reference point (The reference point being Country 10)
As a result, when comparing two countries from the list in terms of GDP, GDP per capita, or population, we can directly use the values presented in the table, since they are all based on a uniform reference point.
We can compare the population of two countries using the formula 
For example, to compare the GDP of Country A and Country B, we can simply use the values listed under "GDP" in the table, as both are referenced using the same country throughout. This eliminates the need for additional conversions or adjustments.
The given question asks us to compare the population of countries between 1, 4, 5, and 7 in the year 2027
Country 1: Population in 2024 will be 0.15/0.41 or 15/41 and the population is decreasing at the rate 0.12%
Country 4: Population in 2024 will be 0.12/0.38 or 12/38 and the population is increasing at the rate of 0.49%
Country 5: Population in 2024 will be 0.1/0.36 or 10/36 and the population is increasing at the rate 0.31%
Country 7: Population in 2024 will be 0.08/0.3 or 8/30 and the population is decreasing at the rate 0.11%
Simplifying and comparing the four fractions in order, 15/41, 6/19, 5/18, 4/15
The decimal values of the following are: 0.36586, 0.315789, 0.2777, 0.2666
Right away we can eliminate Country 7 since the population is not only the least, but it is decreasing, so there is no chance it will have the highest population in three years time.
For the other three countries,
Country 1: (0.36585) × (0.9988)3 this equals 0.36453
Country 4: (0.315789) × (1.0049)3 this equals 0.32045
Country 7: (0.2777) × (1.0031)3 this equals 0.2803612
Hence, Country 1 will have the largest population among these four countries.