Question on: JAMB Economics - 2022
The mining sector of an economy contributes 60% to the Gross Domestic Product(GDP). If the GDP is $540, what is the contribution of the mining sector?
A
$ 90.00
B
$ 180.00
C
$ 324.00
D
$ 350.00
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Correct Option: C
To calculate the contribution of the mining sector, follow these steps:
- Convert percentage to decimal: 60% = 60/100 = 0.60
- Multiply the GDP by the decimal: $540 * 0.60 = $324
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