Important Numerical of National Income and related aggregates class 12 CBSE Board

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There are 8 different aggregates in which income of a nation can be expressed. A short numerical on the basis of converting the income of a nation into different aggregates can come in economics paper.

I am solving some important numerical of national income and related aggregates. These are important one with the examination point of view.

I have discussed national income and its related aggregates in detail in below lecture.

Read Here:- National income and its 8 related aggregates explained

50 Must do Numerical of National Income and related aggregates

1. Calculate GNP at FC (Gross National Product at Factor Cost)

Particulars₹ in crores
1. NDP at MP80,000
2. Net Factor income from abroad– 200
3. Deprecation4,950
4. Subsidies1,770
5. Indirect Tax10,600

Solution:-

GNP at FC = NDP at MP + Depreciation + NFIA – Net Indirect tax (Direct tax – subsidies)

GNP at FC = 80,000 + 4950 + (- 200 ) – (10,600 – 1,770)

GNP at FC = 75,920 Crores

2. Calculate Domestic Income

Particulars₹ in crores
1. Gross National Product at market price58,350
2. Indirect tax2,590
3. Subsidies1,540
4. Depreciation1,625
5. Net Factor income from abroad– 240

Solution:-

Domestic Income (NDP at FC) = GNP at MP – Depreciation + NFIA – Net Indirect tax (Indirect tax – subsidy)

NDP at FC = 58,350 – 1625 – (- 240) – (2590 – 1540)

NDP at FC = ₹ 55,915 crores

3. Calculate National Income or NNP at FC.

Particulars₹ in crores
1. GDP at MP4,800
2. Indirect Taxes300
3. Net Factor Income from aborad80
4. Consumption of fixed capital200
5. Subsidies60

Solution:-

NNP at FC = GDP at MP – consumption of fixed capital + NFIA – Net Indirect tax (indirect tax – subsidy)

NNP at FC = 4800 – 200 + 80 – (300 – 60)

NNP at FC = ₹ 4440 Crores

4. Calculate GDP at MP

Particulars₹ in crores
1. National Income6700
2. Consumption of fixed capital180
3. Factor income from aborad100
4. Indirect taxes130
5. Subsidies70
6. Factor income to abroad150

Solution:-

GDP at MP = NNP at FC + consumption of fixed capital – NFIA + Net Indirect tax (indirect tax – subsidy)

GDP at MP = 6700 + 180 – (100 – 150) + (130 – 70)

GDP at MP = ₹ 6990

5. Calculate Domestic Income

Particulars₹ in crores
1. GNP at FC2700
2. Indirect taxes60
3. Factor income from abroad150
4. Factor income to abroad180
5. Replacement of Fixed Capital150

NDP at FC = GNP at FC – NFIA – consumption of fixed capital (replacement of fixed capital)

NDP at FC = 2700 – (150 – 180) – 150

NDP at FC = ₹ 2580

6. Calculate (a) Domestic Income, (b) National Income

Particulars₹ in crores
1. GDP at MP70150
2. Indirect taxes5200
3. Factor income from abroad800
4. Consumption of fixed capital3100
5. Factor income to abroad300
6. Subsidies4000

Solution:-

Domestic Income (NDP at FC) = GDP at MP – consumption of fixed capital – Net indirect tax (indirect tax – subsidies)

NDP at FC = 70150 – 3100 – (5200 – 4000)

NDP at FC = ₹ 65850

National Income (NNP at FC) = GDP at MP + consumption of fixed capital + NFIA – Net indirect tax (indirect tax – subsidy)

NNP at FC = 70150 – 3100 + (800 – 300) – (5200 – 4000)

NNP at FC = ₹ 66,350

7. Calculate Indirect taxes from the following data:

Particulars₹ in crores
1. NDP at FC55915
2. Subsidies1540
3. Factor income from abroad625
4. Consumption of fixed capital1625
5. Factor income to abroad865
6. GNP at MP58350

Solution:-

NDP at MP = GNP at MP – consumption of fixed capital + factor income to abroad – factor income from abroad

NDP at MP = 58350 – 1625 + 865 – 625

NDP at MP = ₹ 56965

Net Indirect tax = NDP at MP – NDP at FC

Net Indirect tax = 56965 – 55915

Net Indirect tax = ₹1050

Net Indirect tax = Indirect tax – Subsidies

Indirect tax = Net Indirect tax + Subsidies

Indirect tax = 1050 + 1540

Indirect tax = ₹ 2590

8. Calculate Factor income to abroad:

Particulars₹ in crores
1. GNP at FC4280
2. Subsidies80
3. Factor income from abroad400
4. Depreciation480
5. Indirect taxes100
6. NDP at MP3700

Solution:-

NNP at MP = GNP at FC – Depreciation + Indirect taxes – Subsidies

NNP at MP = 4280 – 480 + 100 – 80

NNP at MP = 3820

NFIA = NNP at MP – NDP at MP

NFIA = 3820 – 3700

NFIA = ₹ 120

NFIA – Factor income from abroad – Factor income to abroad

120 = 400 – Factor income to abroad

Factor income to abroad = 400 – 120

Factor income to abroad = ₹ 280

9. Calculate Depreciation:-

Particulars₹ in crores
1. NDP at MP80,000
2. Indirect taxes10,600
3. GNP at FC75,920
4. Factor income to abroad700
5. Factor income from abroad500
6. Subsidies1770

Solution:-

NNP at FC = NDP at MP + Factor income from abroad – Factor income to abroad – (Indirect taxes – Subsidies)

NNP at FC = 80000 + 500 – 700 – (10600 – 1770)

NNP at FC = 70970

Depreciation = GNP at FC – NNP at FC

Depreciation = 75920 – 70970

Depreciation = ₹ 4950

10. Calculate Subsidies:-

Particulars₹ in crores
1. GDP at FC55,000
2. Indirect taxes4,400
3. Factor income to abroad600
4. NNP at MP55,500
5. Factor income from aborad1,300
6. Depreciation2,500

NNP at FC = GDP at FC – Depreciation + Factor income from abroad – Factor income to abroad

NNP at FC = 55000 – 2500 + 1300 – 600

NNP at FC = ₹ 53200

Net Indirect tax = NNP at MP – NNP at FC

Net Indirect tax = 55500 – 53200

Net Indirect tax = 2300

Subsidies = Indirect tax – Net Indirect tax

Subsidies = 4400 – 2300

Subsidies = ₹ 2100 crore

11. Given the following, calculate National Income and GNP at MP.

Particulars(₹ in crore)
1. NDP at MP114
2. Net Indirect tax12
3. Consumption of fixed Capital13
4. Net factor income from abroad– 1

Solution:-

National Income (NNP at FC) = NDP at MP + Net factor income from abroad – Net Indirect tax

National Income = 114 – 1 – 12

National Income = ₹ 101

GNP at MP = NDP at MP + consumption of fixed capital + Net factor income from abroad

GNP at MP = 114 + 13 – 1

GNP at MP = ₹ 126 crore

12. Given the following, calculate NNP at MP and GNP at FC.

Particulars(₹ in crore)
1. NDP at FC96
2. Net indirect tax10
3. Consumption of fixed capital12
4. NFIA– 1

Solution:-

NNP at MP = NDP at FC + NFIA + Net Indirect tax

NNP at MP = 96 – 1 + 10

NNP at MP = ₹ 105 crore

GNP at FC = NDP at FC + consumption of fixed capital + NFIA

GNP at FC = 96 + 12 – 1

GNP at FC = ₹ 107 crore

13. Calculate NDP at FC and NNP at FC

Particulars(₹ in crore)
1. GNP at MP200
2. NFIA– 4
3. Consumption of fixed capital10
4. GST20
5. Subsidies4

Solution:-

NDP at FC = GNP at MP – consumption of fixed capital – NFIA – (GST – Subsidies)

NDP at FC = 200 – 10 + 4 – 20 + 4

NDP at FC = ₹ 178 crore

NNP at FC = GNP at MP – consumption of fixed capital – (GST – Subsidies)

NNP at FC = 200 – 10 – (20 – 4)

NNP at FC = ₹ 174 crore

14. Calculate GDP at MP and GNP at MP.

Particulars(₹ in crore)
1. NDP at FC300
2. NFIA5
3. GST20
4. Consumption of fixed capital30
5. Subsidies10

Solution

GDP at MP = NDP at FC + consumption of fixed capital + (GST – Subsidies)

GDP at MP = 300 + 30 + (20 – 10)

GDP at MP = ₹ 340

GNP at MP = NDP at FC + consumption of fixed capital + NFIA + (GST – Subsidies)

GNP at MP = 300+ 30 + 5 + (20 – 10)

GNP at MP = ₹ 345 crore

15. Calculate NDP at FC and National Income

Particulars(₹ in crore)
1. GNP at MP400
2. Net factor income paid to abroad10
3. Consumption of fixed capital30
4. GST40
5. Subsidies10

Solution

NDP at FC = GNP at MP – consumption of fixed capital + Net factor income paid to abroad – (GST – Subsidies)

NDP at FC = 400 – 30 + 10 – (40 – 10)

NDP at FC = ₹ 350 crore

NNP at FC (National Income) = GNP at MP – consumption of fixed capital – (GST – Subsidies)

National Income = 400 – 30 – (40 – 10)

National Income = ₹ 340 crore

16. Calculate GNP at FC and NDP at MP

Particulars(₹ in crore)
1. Factor income received from abroad20
2. Consumption of fixed capital30
3. Subsidies10
4. GST40
5. Factor income paid to abroad30
6. NDP at FC250

Solution:-

GNP at FC = NDP at FC + consumption of fixed capital + (factor income received from abroad – factor income paid to abroad) + (GST – subsidies)

GNP at FC = 250 + 30 + (20 – 30)

GNP at FC = ₹ 270 crore

GNP at FC = ₹ 310

NDP at MP = NDP at FC + (GST – Subsidies)

NDP at MP = 250 + (40 – 10)

NDP at MP = ₹ 280 crore

17. From the following data estimate: a) Net Indirect taxes, and b) Net Domestic Product at Factor Cost.

Items(₹ in crore)
1. Net National Product at Market Price1400
2. Net factor income from abroad– 20
3. Gross National Product at factor cost1300
4. Consumption of fixed capital100
5. National debt interest18

Solution:-

NNP at FC = GNP at FC – consumption of fixed capital

NNP at FC = 1300 – 100

NNP at FC = 1200

Net Indirect taxes = NNP at MP – NNP at FC

Net Indirect taxes = 1400 – 1200

Net Indirect taxes = ₹ 200 crore

NDP at FC = NNP at FC – Net Factor income from abroad

NDP at FC = 1200 – (- 20)

NDP at FC = ₹ 1220 crore