Question

Given the following table, determine the missing value.

Growth Factor: 1.08 1.12 3.22 1.51

Percent: 8% 12% ? 51%

a. 222%
b. 322%
c. 22%
d. 22.1%

Answer 1

Option: a is the correct answer.

a. 222%

Explanation:

We are given a growth factor as:

Growth factor: 1.08 1.12 3.22 1.51

We know that the rate at which the growth increases is denoted by r and is calculated as:

1+r=Growth factor

i.e. r=Growth factor-1

for 1.08 the rate is: 0.08

which in percent is written as: 8%

Similarly the rate of 1.12 is: 12%

Hence, the rate of a growth factor of 3.22 is:

1-3.22=2.22

which in percent is: 222%

Hence, the missing value is: 222%