A factory increased its production of cars from 80000 in the year 2011-2012 to 92610 in 2014-2015.find the annual rate of growth of cars. mam in this question what shall the time period be and how shall it be calculated
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Answer:
V = 92610
Vo = 80000
V = Vo(1+r/100)^n
92610 = 80000(1+r/100)^3
92610/80000 = (1+r/100)^3
(21/20)^3 = 1+r/100
21/20-1 = r/100
21-20/20 = r/100
1/20 = r/100
100/20 = r
=5% per annum =rate
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