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The table given below gives the annual details of loans from rural banks and agricultural loans over the years 1970 to 1983. Using this data answer the questions that follow.
Question 24
From the given data, the number of rural loans up to 1980 formed approximately what percentage of those in 1983?
Solution
Number of loans in 1970 = 90*28 = 2520
Number of loans in 1971 = 115*39 = 4485
Number of loans in 1972 = 130*52 = 6760
Number of loans in 1974 = 260*98 = 25480
Number of loans in 1975 = 318*121 = 38478
Number of loans in 1980 = 605*288 = 174240
Sum of these loans = 251963
Number of loans in 1983 = 840*380 = 319200
Ratio = $$\frac{251963}{319200}$$ = 80% approximately.
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