The following table shows the year-wise data related to the number of…
2023
The following table shows the year-wise data related to the number of registered cars in four cities (A, B, C, and D) during the four years from 2017 to 2020. The last column gives the population data (in millions) for these cities for the year 2020.
City | Registered Cars (2017) | Registered Cars (2018) | Registered Cars (2019) | Registered Cars (2020) | Population in 2020 (in millions) |
A | 7500 | 8000 | 9000 | 9500 | 0.8 |
B | 1200 | 1350 | 1400 | 1500 | 0.2 |
C | 6000 | 7500 | 8500 | 10000 | 0.6 |
D | 5000 | 6000 | 6600 | 7400 | 0.75 |
Based on the average growth percentage (%) of registered cars in City ‘A’ per year (during the intervening years 2017-2020), what will be the estimated number of registered cars in City A in the year 2021?
- A.
~ 11225
- B.
~ 10815
- C.
~ 10415
- D.
~ 10283
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Show answer & explanation
Correct answer: D
First, calculate the annual growth percentage for City A from 2017 to 2020. Growth (2017-2018) = ((8000 - 7500)/7500)*100 ≈ 6.67%. Growth (2018-2019) = ((9000 - 8000)/8000)*100 = 12.5%. Growth (2019-2020) = ((9500 - 9000)/9000)*100 ≈ 5.56%. Next, find the average growth rate: (6.67 + 12.5 + 5.56) / 3 ≈ 8.24%. Finally, estimate the 2021 registrations by applying this average growth to the 2020 base: 9500 * (1 + 8.24/100) ≈ 10283.