Question

Suppose that per capita GDP of India and USA are growing at annual average rates of 8.8% and 1.8%, respectively. Further, consider that in 2019-20, per capita GDP of USA was USD 41099 and per capita GDP of India was USD 1570. Assuming that the two countries continue to grow at the above rates, India's per capita GDP will be equal to the per capita GDP of USA in _____ years (round off to 2 decimal places).

Answer 1

The correct answer is: 45.00 or 50.00 (approx.)