The population of the town of Nadiad was 150,000 in 2018 and 165,000 in 2022. What is the average annual growth rate (in %)?
Answer
2.42%
The correct answer is 2.42% — Step 5: Convert to percentage: .
Step-by-step solution
- Step 1: Identify the initial population and the final population .
- Step 2: Compute the ratio .
- Step 3: Find the 4th root (since the period is 4 years) using .
- Step 4: Subtract 1 to get the growth factor: .
- Step 5: Convert to percentage: .
Common mistake: Using the formula instead of the root method.
Concept tested: Average annual growth rate calculation.
Published · How this solution was prepared and checked
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