Question

The Central African Republic has a GDP of $1,107,689million$CFA francs and a population of $4.862million$. The exchange rate is $284.681$CFA francs per dollar. Calculate the GDP per capita of Central African Republic.

Short answer

The value of GDP percapita for Central African Republic is $800.28.

Step-by-step solution

Step 1. Given Information

GDP of Central African Republic$=1,107,689millionCFAfrancs$

Population of Central African Republic$=4.862million$

The exchange rate$=284.681CFAfrancsperdollar$

Step 2. Calculation

The GDP of the Central African Republic is measured in francs.

Divide this by the exchange rate to convert to US dollars, and then divide by the population to get the per capita figure.

That is, $$\begin{gathered} =1,107,689millionfrancs/284.681francsperdollar/4.862millionpeople \\ =\$800.28GDPpercapita \end{gathered}$$