In a factory, the production of cycles rose to 48400 from 40000 in 2 years. The rate of growth per annum is ?
A. 10.5%
B. 9%
C. 8%
D. 10%
Answer: Option D
Solution(By Examveda Team)
The production of cycles rose to 48400 from 40000 in 2 years⇒ Present production = 40000
⇒ After two years = 48000
⇒ Time = 2 years
⇒ Rate of increment = ?
According to the question,
Production after 2 years = Present production $${\left( {1 + \frac{{\text{R}}}{{100}}} \right)^t}$$
$$\eqalign{ & \Rightarrow 48400 = 40000{\left( {1 + \frac{{\text{R}}}{{100}}} \right)^2} \cr & \Rightarrow \frac{{484}}{{400}} = {\left( {1 + \frac{{\text{R}}}{{100}}} \right)^2} \cr & \Rightarrow 1 + \frac{{\text{R}}}{{100}} = \frac{{22}}{{20}} \cr & \Rightarrow \frac{{\text{R}}}{{100}} = \frac{1}{{10}} \cr & \Rightarrow {\text{R}} = 10\% \cr} $$
⇔ Rate of increment = 10%
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