Refer to the given figure and answer the question. What was the rate of growth…
2023
Refer to the given figure and answer the question.
What was the rate of growth in production in the year 1999 compared to the year 1996 ?
- A.
8.20%
- B.
4.65%
- C.
6.91%
- D.
2.82%
Attempted by 3 students.
Show answer & explanation
Correct answer: B
To determine the rate of growth in production between 1996 and 1999, we use the percentage growth formula:
Formula: ((Production_1999 - Production_1996) / Production_1996) * 100
Production in 1996: 4.3
Production in 1999: 4.5
Calculation: ((4.5 - 4.3) / 4.3) * 100
Result: 0.2 / 4.3 * 100 ≈ 4.65%