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A nation has a foreign exchange reserve of $1 billion. If it imports goods worth

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Question: A nation has a foreign exchange reserve of $1 billion. If it imports goods worth $300 million, what percentage of the reserves will remain?

Options:

  1. 70%
  2. 30%
  3. 60%
  4. 40%

Correct Answer: 70%

Solution: 

Remaining reserves = $1 billion - $300 million = $700 million. Percentage remaining = ($700 million / $1 billion) * 100 = 70%.

A nation has a foreign exchange reserve of $1 billion. If it imports goods worth

Practice Questions

Q1
A nation has a foreign exchange reserve of $1 billion. If it imports goods worth $300 million, what percentage of the reserves will remain?
  1. 70%
  2. 30%
  3. 60%
  4. 40%

Questions & Step-by-Step Solutions

A nation has a foreign exchange reserve of $1 billion. If it imports goods worth $300 million, what percentage of the reserves will remain?
  • Step 1: Identify the total foreign exchange reserves, which is $1 billion.
  • Step 2: Identify the value of imports, which is $300 million.
  • Step 3: Subtract the value of imports from the total reserves: $1 billion - $300 million.
  • Step 4: Calculate the remaining reserves: $1 billion - $300 million = $700 million.
  • Step 5: To find the percentage of the remaining reserves, divide the remaining reserves by the total reserves: $700 million / $1 billion.
  • Step 6: Convert the result into a percentage by multiplying by 100: ($700 million / $1 billion) * 100.
  • Step 7: The final percentage of the reserves that will remain is 70%.
  • Foreign Exchange Reserves – Understanding the concept of foreign exchange reserves and their role in a nation's economy.
  • Percentage Calculation – Calculating the remaining percentage of reserves after accounting for imports.
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