Question

A car factory increased its production of cars from 80000 in 2004 to 92610 in 2007 find the annual rate of growth of production of cars

Answer 1

Heyy mate ❤✌❤

Here's your Answer...

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V=92610              
       
V=V0(1+r/100)n

92610=80000(1+r%)3

12610=(1+r%)3

(23.28)3=(1+r%)3

r=22.28% 
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Answer 2

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Here is your answer
we can be take the value as
T = 3 years
( 2007 - 2004)
P = 80000
A = 92610
R = r%
As we know that
A = P (1+r/100)^t
$92610 = 80000(1 + \frac{r}{100} ) {}^{3} \\ \frac{92610}{80000} = (1 + \frac{r}{100} ) {}^{3} \\ (\frac{21}{20} ) {}^{3} = (1 + \frac{r}{100} ) {}^{3} \\ on \: comparing \\ \frac{21}{20} = 1 + \frac{r}{100} \\ \frac{21}{20} - 1 = \frac{r}{100} \\ \frac{21 - 21}{20} = \frac{r}{100} \\ \frac{1}{20} = \frac{r}{100} \\ r = \frac{100}{20} \\ r = 5\%$

So Annual Rate of growth of production is 5%

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