Question:
In a factory, the production of scooters rose to 48{,400 from 40{,}000 in 2 years. The rate of growth per annum is}
In a factory, the production of scooters rose to 48{,400 from 40{,}000 in 2 years. The rate of growth per annum is}
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For multi-year growth, use compound formula $A=P(1+r)^n$.
Updated On: Aug 11, 2025
- 20%
- 10%
- 30%
- 8%
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The Correct Option is B
Solution and Explanation
$40000(1+r)^2=48400\Rightarrow(1+r)^2=1.21\Rightarrow1+r=1.10\Rightarrow r=10%$.
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