Question

In a factory the production of scooters rose to 48400 from 40000 in 2 years
Find the rate of growth per annum

Answer 1

Given ;-

A= 48,400

P = 40000

Time = 2 years

48000 = 40000(1+r/100)^2

= (1+r/100)^2 = (22/20)^2

= 1 + r/100 = 22/20

 r/100 = 22/20 - 1

 = 1/10

r = 100/10

RaTe = 10%