Question
What is the Compounded Annual Growth Rate of the number of students taking the Undergraduate exam from 1995 to 1999?
Answer: Option C
:
C
We need to look for (factor multiplication)1/n-1 = (1.13)1/4 -1 =3%
Shortcut - Go from answer options From the equation above, ((correct answer)% + 1)4= 1.13
Take a middle answer option If 2 is the answer, then 1.024 = 1.08... we are looking for 1.1
Thus, the answer will be slightly greater than 2. The closest answer without further calculation is 3
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:
C
We need to look for (factor multiplication)1/n-1 = (1.13)1/4 -1 =3%
Shortcut - Go from answer options From the equation above, ((correct answer)% + 1)4= 1.13
Take a middle answer option If 2 is the answer, then 1.024 = 1.08... we are looking for 1.1
Thus, the answer will be slightly greater than 2. The closest answer without further calculation is 3
Was this answer helpful ?
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