Question

The price of a commodity becomes16 times in 4 years. percentage increase per year

Answer 1

It has to double in price every years

4 In (1+i) = In 16 ;

1+i = In16/In4

1+i =2

i = 1

Let's say you have something that cost 2$

The next year it cost 4(1year incrase of 100%)

The year after that it will cost 8$( 2nd year)

The year after that it will cost 16$ (3rd year)

The year after that it will cost 32$(4th year)

2*16=36 ; check !