In 1990, the GDP of Canada was $680 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 85 U. S. cents. In 2000, the GDP of Canada was $1000 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 69 U. S. cents. By what percentage did the GDP of Canada increase from 1990 to 2000 in Canadian dollars?

Question

Makhi Trujillo

Business

26 September, 21:09

In 1990, the GDP of Canada was $680 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 85 U. S. cents. In 2000, the GDP of Canada was $1000 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 69 U. S. cents. By what percentage did the GDP of Canada increase from 1990 to 2000 in Canadian dollars?

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Answers (1)

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Lexi Flynn · Answer 1

The GDP of Canada increased by a percentage of 47.06% from 1990 to 2020

Explanation:

In this question, we are asked to calculate the percentage by which there was an increase in the GDP of Canada between the years 1990 and 2000 in Canadian dollars.

We proceed as follows.

The percentage change can be calculated using a mathematical approach.

Mathematically, the percentage change can be represented by the formula below;

(Canadian GDP in year 2000 - Canadian GDP in year 1990) / Canadian GDP in year 1990 * 100%

In the question, we have identified the following;

Canadian GDP in the year 2000 measured in Canadian dollars is $1,000 billion

Canadians GDP in the year 1990 measured in Canadian dollars is $680 billion

We insert the above in the equation;

= (1,000-680) / 680 * 100 = 320/680 * 100%

= 47.06%