A department store buys 300 shirts at a cost of $1 comma 800 and sells them at a selling price of $10 each. Find the percent m
1 answer:
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Answer:
The % growth rate is 15.8%.
Step-by-step explanation:
Let the function is given by , where f(w) is the number of a specific product produced after w weeks.
Now, given for w = 0, f(0) = 190 = a
So, the function becomes ............. (1)
Now, it is also give that at w = 1, f(1) = 220.
So, from equation (1) we get,
⇒ b = 1.15789.
Now, b = 1 + r
⇒ 1.15789 = 1 + r
⇒ r = 0.15789
Therefore, the % growth rate is 0.15789 × 100% = 15.8% (Approx.)