The following table shows Net National Income (in Lac Crore) and Per capita Net National Income (in thousand) of India during the 5 year period from the year 2015-16 to 2019-20. Based on the data in the table, answer the questions that follow

Year	Net National Income (in Lac, Crore rupees)	Per Capita Net National Income (in thousand rupees)
2015-16	122	95
2016-17	136	105
2017-18	151	115
2018-19	167	126
2019-20	177	132

Assuming that the per capita Net national Income grows beyond the year 2019-20 at the average annual rate of increase (%) of the period (2015-16 to 2019-20), what will be its value (in thousand `) at the end of the year 2020-21?

The correct answer is 143.34.

Step-by-step Explanation:

To find the projected per capita Net National Income for the year 2020-21, we first need to determine the annual percentage growth rate of the per capita income for each year in the period from 2015-16 to 2019-20, calculate their average, and then apply this average rate to the value in 2019-20.

From the table, the Per Capita Net National Income (in thousand rupees) for each year is:
• 2015-16: 95
• 2016-17: 105
• 2017-18: 115
• 2018-19: 126
• 2019-20: 132

Step 1: Calculate the percentage increase for each year:

• Increase from 2015-16 to 2016-17:
$$\text{Growth Rate}=\frac{105-95}{95}\times 100=\frac{10}{95}\times 100\approx 10.5263\%$$

• Increase from 2016-17 to 2017-18:
$$\text{Growth Rate}=\frac{115-105}{105}\times 100=\frac{10}{105}\times 100\approx 9.5238\%$$

• Increase from 2017-18 to 2018-19:
$$\text{Growth Rate}=\frac{126-115}{115}\times 100=\frac{11}{115}\times 100\approx 9.5652\%$$

• Increase from 2018-19 to 2019-20:
$$\text{Growth Rate}=\frac{132-126}{126}\times 100=\frac{6}{126}\times 100\approx 4.7619\%$$

Step 2: Calculate the average annual rate of increase (%):

$$\text{Average Growth Rate}=\frac{10.5263+9.5238+9.5652+4.7619}{4}$$
$$\text{Average Growth Rate}=\frac{34.3772}{4}\approx 8.5943\%$$

Step 3: Estimate the value for the year 2020-21:

Using the value of the year 2019-20 (132 thousand rupees) as the base, we apply the average growth rate of 8.5943% to find the projected value at the end of 2020-21:
$${\text{Value}}_{2020-21}=132\times (1+\frac{8.5943}{100})$$
$${\text{Value}}_{2020-21}=132\times 1.085943\approx 143.34$$
Therefore, the value of the Per Capita Net National Income at the end of the year 2020-21 will be 143.34 thousand rupees.