Question

A factory increased its production of two wheelers from 80000 in 1999 to 92610 in 2002 find the annual rate of growth of production of two wheelers

Answer 1

The annual rate of growth of production of two wheelers is 5.23%

Initial production in 1999 = 80000

Final production in 2002 = 92610

Rate of growth is given by = (Final Production - Initial Production)/Initial production

= (92610-80000)/80000

= 0.157

Percentage growth = 0.157*100% = 15.7%

Thus annual growth rate = Percentage growth/No. of years

= 15.7%/3

= 5.23%

Answer 2

Answer:

5.23 is correct answer