charts given below.
barrels, then the level of reserves located in the USA in billion barrels would
be approximately
0.66 and 2.2 billion barrels. For which of the following countries, the
difference between consumption and production is the lowest?
to daily consumption of the USA?
5.58 and 0.24 billion barrels, respectively. Which country has the lowest
ration of annual production to reserves?
5.58 and 0.24 billion barrels. If the expected annual growth rate of
consumption for India is 2%, the oil reserves of India (in billion barrels)
after 5 years would be
answer the given questions
million) = $3594.3. The total of the next five deficit countries (in $ million)
= $2588.5. The total of the last five deficit countries (in $ million) –
$334.2. The total of the four surplus countries (in $ million) = $1860.4
average of the 4 surplus countries is
countries to the overall deficit of all the deficit countries is nearly equal
to
deficit countries is nearly the deficit of which country?
the lowest of the surplus countries to the difference between the deficit of
Bangladesh and Oman is
Answers:
- 1
- 4
- 2
- 2
- 4
- 3
- 2
- 1
- 2
- 2
Detailed Solutions:
01. Global reserves of oil = 1146.49 billion barrels
Reserves of oil in USA = 2.53% of 1146.49 = 29 billion barrels
02. Daily Production of India = 0.66 million barrels
1.86% = 0.66
100% = (0.66/1.86)x100 = 66/1.86 million barrels
Daily production of Iran = (66/1.86)x11.27% = 3.99 million barrels
Saudi Arabia = (66/1.86)x28.17% = 9.99 million barrels
Russia = (66/1.86)x11.27% = 3.99 million barrels
Daily consumption of India = 2.2 million barrels
5.13% = 2.2 million barrels
100% = (2.2/5.13)x100 = 220/5.13 million barrels
Iran = (220/5.13) x0 = 0
Saudi Arabia = (220/5.13) x0 = 0
Russia = (220/5.13)x7.69% = 3.29 million barrels
Difference between consumption and production
Iran = 3.99 – 0 = 3.99
India = 2.2 – 0.66 = 1.54
Saudi Arabia = 9.99 – 0 = 9.99
Russia = 3.99 – 3.29 = 0.7
So, Difference is Minimum for Russia
03. India’s oil consumption = 5.13%
USA oil consumption = 51.28%
Required number of days = (51.28/5.13) = 9.99 or 10 days approx.
04. Reserve figure for India = 5.58 billion barrels
0.52% = 5.58
100% = (5.58/0.52)x100 = 558/0.52
USA = (5580.52) x2.53% = 27
Iran = (5580.52) x11.34% = 122
Saudi Arabia = (5580.52) x22.85% = 245
Annual production figure for India = 0.24 billion barrels
1.86% = 0.24
100% = (0.24/1.86)x100 = 24/1.86
USA = (24/1.86) x2.490% = 3.2
Iran = (24/1.86) x11.27% = 1.5
Saudi Arabia = (24/1.86) x28.17% = 3.6
Ratio of annual production to reserves
USA = 3.2/27 = 0.1185 billion barrels
Iran = 1.5/122 = 0.0123 billion barrels
Saudi Arabia = 3.6/245 = 0.0147 billion barrels
India = 0.24/5.58 = 0.0430 billion barrels
Ratio is minimum for Iran
05. From the given data, we cannot answer the question as we do not know the growth rate of reserves oil of India.
06. Total of four surplus = 1860.4
Average of four surplus = 1860.4/4 = 465.1 (near to surplus of USA)
07. Total deficit of last five countries = 334.2
Overall deficit of all the deficit countries = 3594.3 + 2588.5 + 334.2 = 6517
Required ratio = 334.2:6517 = 0.0513
08. Total of middle five deficit countries = 2588.5
Average of middle five deficit countries = 2588.5/5 = 517.7 (near to deficit of India)
09. Net deficit = 6517
Net surplus = 1860.4
Required ratio = 6517:1860.4
10. Difference between the highest and the lowest of the surplus countries = 665 – 305.7 = 359.3
Difference between the deficit of Bangladesh and Oman = 1225 – 1131.3 = 93.7
Required ratio = 3593:937
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