Study the given graph and answer the question that follows.
By what percentage is the total exports in 2014 and 2016 less than the total imports in the same two years?
Answer & explanation
Correct answer: option 1
Total export in 2014 & 2016 = 300 + 400 = 700
Total import in 2014 & 2016 = 360 + 440 = 800
Required percentage = \(\frac{800 - 700 }{800}\) × 100
= \(\frac{100 }{800}\) × 100
= 12.5%