Question

In 1930, there were 3.5 million electricity customers in England and Wales. By 1950, there were 12 million. What was the average annual growth rate of electricity customers during this period?

a) 10%
b) 15%
c) 20%
d) 25%

Answer 1

The average annual growth rate of electricity customers during the period from 1930 to 1950 was approximately 9.22%.

Step-by-step explanation:

The average annual growth rate of electricity customers during the period from 1930 to 1950 can be calculated using the formula:

Annual growth rate = (Ending value / Beginning value)^(1 / Number of years) - 1

Using the given values, the annual growth rate is:

(12 million / 3.5 million)^(1 / 20) - 1 = 0.0922 ~ 9.22%

This means that the average annual growth rate of electricity customers during this period was approximately 9.22%.

The average annual growth rate of electricity customers in England and Wales from 1930 to 1950 was approximately 7.82%. Starting with 3.5 million customers in 1930, the number surged to 12 million by 1950.

This significant increase reflects the expanding adoption of electricity during a transformative period, likely driven by industrialization, technological advancements, and the integration of electricity into various aspects of daily life.

The growth rate of 7.82% exemplifies the widespread embrace of electric power, indicating its increasing importance and accessibility to a growing population over the two-decade span.