Question

In a factory the production of motor bikes was 40,000 in a particular year, which rose to 48,400 in 2 years. What will be the growth rate per annum, if it was uniform during two years?

Answer 1

2400will be the growth rate per annum if it was uniform during two year

Answer 2

Answer:

The growth rate per annum is 10%.

Step-by-step explanation:

Given : In a factory the production of motor bikes was 40,000 in a particular year, which rose to 48,400 in 2 years.

To find : What will be the growth rate per annum, if it was uniform during two years?

Solution :

The situation given gives an exponential function.

i.e, $y=a(1+r)^n$

where, y is the final population y=48400

a is the initial population a=40000

r is the growth rate

n is the number of years n=2 years

Substitute the value in the formula,

$48400=40000(1+r)^2$

$1.21=(1+r)^2$

Taking root both side,

$\sqrt{1.21}=1+r$

$1.1=1+r$

$r=1.1-1$

$r=0.1$

Convert into percentage,

$r=0.1 = 0.1 \times 100 = 10\%$

Therefore, The growth rate per annum is 10%.