India is growing at a rate of 9% per year, and its real GDP per capita is about $3,500, while the United States is growing at a rate of 3% per year, and its real GDP per capita is about $47,000. About how much will India's real GDP per capita be in 20 years?

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Quizplus · Accepted Answer

India's real GDP per capita will be approximately $20,000 in 20 years. This is because India's real GDP per capita is growing at a rate of 9% per year, which means that it will double every 8 years. In 20 years, India's real GDP per capita will have doubled twice, which means that it will be 4 times its current value. $3,500 x 4 = $20,000.

India Is Growing at a Rate of 9% Per Year