numerical: population growth

Question

A population of 500 grows to 620 in one year. What is the annual growth rate (%)?

RankGuru · Accepted Answer

1. **Define Growth Rate**: The percentage change in population size over a period of time.
2. **Formula**: 
   - $Growth \ Rate \ (\%) = \frac{Final \ - \ Initial}{Initial} 	imes 100$
3. **Calculation**:
   - $Change \ in \ size = 620 - 500 = 120$.
   - $Growth \ Rate = \frac{120}{500} 	imes 100$
   - $Growth \ Rate = \frac{120}{5} \% = \mathbf{24 \%}$.
4. **Conclusion**: The population increased by $24\%$ during that year.

Rank Guru

numerical: population growth

Select the correct option: