Direction: Study the following graph and answer the questions given below:
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What months experienced more than 10% but less than 20% increase in the crude oil price over the earlier month?
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- March & July
- April & July
- June & September
- July & September
Correct Option: D
Increase in the price of crude oil in the given month with respect to the corresponding previous months:
In March → (3980 - 3210) x 100 /3210 ≈ 24%
In April → (4800 - 3980) x 100/3980 = 20.6%
In May → (4940 - 4800)/4800 x 100 ≈ 3%
In June → (4970 - 4940)/4970 x 100 = 0.6%
In July → (5730 - 4970 )x100 /4970 = 15.3%
In August → (6250 - 5730)x 100/5730 = 9.07%
In September → (7020 - 6250)x 100/6250 = 12.32%
It is shown that in the months of July and September, increase in the crude oil price was more than 10% but less than 20% over the earlier month.
