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Question

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

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Solution

Let the rate of growth per annum be R.
We have, Present production =48400 scooters.
Previous production =40000 scooters
Number of years =2
48400=40000×(1+R100)2
4840040000=(1+R100)2
484400=(1+R100)2
121100=(1+R100)2
(1+R100)2=(1110)2
1+R100=1110
R100=11101
R100=110
R=10010=10
Hence, the required rate of growth =10% per annum.

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