Question

if the price of a commodity doubles in a oeriod of 4 years what is the average percentage increase per year?​

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It is a simple application of geometric mean.

increaseRate = (2x/x)^(1/4) - 1 = 2^(1/4) - 1 = 0.189 or 18.9%

Guest 2017-04-22 01:18:33