Question

The population of a country Dnalgne is 90 million in 1997 and increasing at a rate of 0.1 million per year. The average annual income of a person in Dnalgne during 1997 was 25000 dollars per year and increasing at a rate of 600 dollars per year. How quickly was the total income of the entire population rising in 1997?

Answer 1

The total income of Dnalgne's population was rising by 54.0025 billion dollars per year in 1997, due to both increasing population and increasing average annual income.

Step-by-step explanation:

The question asks us to calculate how quickly the total income of the entire population of country Dnalgne was rising in 1997. We are given that the population was increasing at a rate of 0.1 million per year and the average annual income was increasing at a rate of 600 dollars per year.

To find the rate at which the total income is rising, we have to consider both the increase in population and the increase in average income. The total income (I) can be calculated by multiplying the population (P) with the average income per person (A):
I = P × A.

In 1997, the total income is rising due to:

• Each of the initial 90 million people earning an additional 600 dollars, contributing an increase of 90 million × 600 dollars/year.
• The additional 0.1 million people earning the average income of 25,000 dollars, contributing 0.1 million × 25,000 dollars/year.

So, the total income is rising by:

(90 million × 600 dollars/year) + (0.1 million × 25,000 dollars/year)

Calculating the above expression, we get:

(54,000,000,000 dollars/year) + (2,500,000 dollars/year) = 54,002,500,000 dollars/year.

Therefore, the total income of Dnalgne's population was rising by 54.0025 billion dollars per year in 1997.

Answer 2

The answer is: 2.514% in percentage term or $56,560 million in absolute term.

Step-by-step explanation:

The entire population income of Dnalgne in the beggining of 1997 = Total population of Dnalgne in the beginning of 1997 x average annual income of a person in Dnalgne in the beginning of 1997 = 90 million x 25,000 = $2,250,000 million

The poplulation of Dnalgne at the end of 1997 = 90 million + 0.1 million = 90.1 million; The average annual income of a person in Dnalgne at the end of 1997 = 25,000 +600 = $25,600

The entire population income of Dnalgne in the end of 1997 = Total population of Dnalgne at the end of 1997 x average annual income of a person in Dnalgne at the end of 1997 = 90.1 million x 31,000 = $2,306,560 million

Thus. the rise in absolute number is $2,306,560 million - $2,250,000 million = $56,560 million or 56,560/2,250,000 = 2.514% in percentage term.