Question

If per capita gdp in 2014 was $900, in 2015 was $1,000, and in 2016 was $1,200, the growth rate of per capita gdp between 2014 and 2016 was

Answer 1

The formula for Growth rate of per capita GDP is:

Growth Rate = (per capita GDP in 2016 - per capita GDP in 2014) * 100 / per capita GDP in 2014 

Growth Rate = (1,200 - 900) * 100 / 900
                     = 300 * 100 / 900
                     = 30,000/900
                     = 33.33 or 33

Therefore, 33% is the per capita growth rate between 2014 and 2016.