Guesstimate | Number of Maggi sold in a day in India | Myntra Interview Question
Question
Guess the number of maggie sold in India
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Guesstimate
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Answers ( 2 )
Total population of India= 1.3B
As maggie is mostly consumed in Urban areas
People in Urban areas= 35% of Total Population (2020)
= 0.35 * 1.3B
= 45.5M
Let average size of a family be 4 persons
No of families= 45.5M / 4
= 11.375M families
According to a survey, 2 Maggies are consumed per family
=> Maggie consumption= 2 * 11.375M
= 22.750M
Thus, about 22.750M of maggie is sold in India per day.
(The data may vary as per more detailed survey)
Guesstimates are mostly a discussion between interviewer and interviewee . Here are some of the Preliminary Questions
1. Do I need to consider both urban and rural , because Maggi is a commonly used snack item all over India —BOTH
2. Are we having any consumption data of Maggi – Assume with proper logic
3. Are we counting only one packet of Maggi, because it comes in different combinations – Yes give me a number with respect to a single piece.
The structure I followed was Population break down into rural and urban , which further Divided by 4 will result in the Number of Households. Households are further divided into Upper middle class, Middle class ,Lower Middle class, Below poverty line,They are divided because we will assign consumption of Maggi with respect to income basis. Assuming 1 Maggie are consumed by Rural Upper Middle class ,Other we assume 0 consumption because Maggi in not much popularly consumed in rural sector . With respect to Urban sector we assume
Urban Upper middle class – 3 Maggies consumed
Middle class – 2 Maggies consumed
Lower middle class -1 Maggies consumed
Below poverty line -0
Total population is India -1300 Million
Rural Population (70%)-910 Million
Urban population(30%)-390 Million
Number of Households Rural – 227.5 Million
Number of Households Urban -97.5 Million
Rural Upper Middle class(5%) =11 Million Urban Upper Middle class(10%) =10 Million
Rural Middle class (35%) =79.6 Million Urban Middle class (30%) =30 Million
Rural Lower Middle class (40%) =91 Millon Urban Lower Middle class (40%) =40 Millon
Rural Below Poverty Line(20%) =45.5 Million Urban Below Poverty Line(20%) =20 Million
Total Maggies sold = (11*1)+(10*3)+(30*2)+(40*1) = 141 Million
141 Millions Maggies sold in India per day
Sanity check: Out of 1300 Million population, if 10% of people buy Maggi every day i.e 130 Million people will be approximately equal to our answer 140 Million