Annual increase

The number of cars produced increased from 45,000 to 47,000 in 3 years. Calculate the average annual increase in cars in%.

Correct result:

p =  1.4601 %

Solution:

t=3 a=45000 b=47000  b=a qt  q=b/a3=47000/4500031.0146  q=1+p/100  p=100 (q1)=100 (1.01461)=1.4601%



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