The population of a town increased from 145000 to 200000 in a decade. What will be the simple growth rate percent of population per annum?
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Correct answer: C
Explanation
The correct answer is Option 3 i.e. 3.793 percent
Initial population (P1) = 145000
Final population after a decade (P2) = 200000
Time (t) = 10 years
Simple growth rate per annum (r) = ((P2 - P1)/P1)/t
r = [(200000 - 145000)/145000] × 100
r = (55000/145000) × 100
r = 0.03793 × 100
r = 3.793%