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The number of bicycles produced in the y...

The number of bicycles produced in the year 2012 and in the year 2015 are 80000 and 92610 respectively. Then find the rate of increase of production in percentage per annum.

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The number of bicycles produced in 2012 is 80000.
The number of bicycles produced in 2015 is 92610.
Let the rate of increase of production in every year be r% and the time is 3 years.
As per question `800xx(1+r/100)^(3)=92610`
`(1+r/100)^(3)=92610/80000`
`implies(1+r/100)^(3)=(21/20)^(3)`
`implies1=r/100=21/20`
`impliesr/100=21/20-1`
`impliesr/100=(21-20)/20`
`impliesr/100=1/20impliesr=5`
Hence,the rate of increase of production of bi-cycles is 5% per annum.
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