IPMAT Question Paper 2019 | IPM Indore Quants

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Analyze the given data for exports and imports of rubber in Rs. crores from 2016 to 2017 and answer the questions based on the analysis.

Question 56 : Average annual exports for the given period 2006-2017) was approximately

1. Rs.230 Cr
2. Rs.220 Cr
3. Rs.210 Cr
4. Rs.190 Cr

Explanatory Answer

Average annual Exports = (Sum of Exports)/(Number of years)
= (280+280+230+210+200+220+210+200+200+200+220+200)/12
=(2650)/12 = 220.833

Therefore, Average annual Exports = 220 (approx.)


Tip: When bigger numbers are involved, imagine a number as average and account for variation, For Instance, let’s assume the average to be 210.
Variance = 70+70+20+0-10+10+0-10-10-10+10-10 = 130; Which means the average variance = 130/12 = 10.833. So the actual average becomes, Assumed Average + Average Variance = 210+10.833 = 220.833 = 220(approx.).

The question is "Average annual exports for the given period 2006-2017) was approximately"

Hence, the answer is Rs.220 Cr

Choice B is the correct answer

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