UPSC Exam > UPSC Questions > National income 1290purchase of raw material ...
Start Learning for Free
National income 1290
purchase of raw material 600
closing stock 210
opening stock 350
expenditure 100
IT 240
NFIA 50
subsidies 80
depreciation 100
find sales?
purchase of raw material 600
closing stock 210
opening stock 350
expenditure 100
IT 240
NFIA 50
subsidies 80
depreciation 100
find sales?
Most Upvoted Answer
National income 1290purchase of raw material 600closing stock 210openi...
Calculation of Sales
Gross National Income (GNI) = National income + Net Foreign Income from Abroad (NFIA)
GNI = 1290 + 50
GNI = 1340
Gross Domestic Product (GDP) = GNI - Net Factor Income from Abroad (NFIA)
GDP = 1340 - 50
GDP = 1290
Calculation of GDP using the Expenditure Approach
GDP = Consumption + Investment + Government Spending + Net Exports
GDP = C + I + G + NX
Given information:
- Expenditure = 100
- IT = 240
- NFIA = 50
- Subsidies = 80
- Depreciation = 100
Calculation of Net Domestic Product at Factor Cost (NDPFC)
NDPFC = GDP - Depreciation
NDPFC = 1290 - 100
NDPFC = 1190
Calculation of Net National Product at Market Price (NNPMP)
NNPMP = NDPFC + Subsidies - Taxes
NNPMP = 1190 + 80 - 0
NNPMP = 1270
Calculation of Sales
Sales = NNPMP - Closing Stock + Opening Stock - Purchases
Sales = 1270 - 210 + 350 - 600
Sales = 810
Therefore, the sales amount is 810.
Gross National Income (GNI) = National income + Net Foreign Income from Abroad (NFIA)
GNI = 1290 + 50
GNI = 1340
Gross Domestic Product (GDP) = GNI - Net Factor Income from Abroad (NFIA)
GDP = 1340 - 50
GDP = 1290
Calculation of GDP using the Expenditure Approach
GDP = Consumption + Investment + Government Spending + Net Exports
GDP = C + I + G + NX
Given information:
- Expenditure = 100
- IT = 240
- NFIA = 50
- Subsidies = 80
- Depreciation = 100
Calculation of Net Domestic Product at Factor Cost (NDPFC)
NDPFC = GDP - Depreciation
NDPFC = 1290 - 100
NDPFC = 1190
Calculation of Net National Product at Market Price (NNPMP)
NNPMP = NDPFC + Subsidies - Taxes
NNPMP = 1190 + 80 - 0
NNPMP = 1270
Calculation of Sales
Sales = NNPMP - Closing Stock + Opening Stock - Purchases
Sales = 1270 - 210 + 350 - 600
Sales = 810
Therefore, the sales amount is 810.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales?
Question Description
National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales?.
National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales?.
Solutions for National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? defined & explained in the simplest way possible. Besides giving the explanation of
National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales?, a detailed solution for National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? has been provided alongside types of National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? theory, EduRev gives you an
ample number of questions to practice National income 1290purchase of raw material 600closing stock 210opening stock 350expenditure 100IT 240 NFIA 50subsidies 80depreciation 100 find sales? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup