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average annual percentage ? average annual percentage ?

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  #1  
Old Sunday, October 20, 2013
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Default average annual percentage ?
Anyone please guide me on solving the following questions.

1) Sales of microwave oven of all brands in a particular market have increased from 5,000 units in 1990 to 900,000 units in 2011. What has been the average annual percent increase in sales?

2) A firm year to year changes in fuel consumption expenditures were -5, 10, 20, 40 and 60 percent. Determine the yearly percent change in expenditure.

Please I am to going to be examined this Tuesday. Please anyone help me. Dearly waiting!
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Old Sunday, October 20, 2013
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Smile I guess I solved 1st question :)
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Originally Posted by haroono View Post
Anyone please guide me on solving the following questions.

1) Sales of microwave oven of all brands in a particular market have increased from 5,000 units in 1990 to 900,000 units in 2011. What has been the average annual percent increase in sales?
I am not familiar with your curriculum, neither I am preparing for this subject. I am engineering student and I feel that I can do it.

Average increase in sales= (900,000-5,000)/21 (as there are 21 years)
= 895000/21
= 42619.04 units.
Percentage Average increase in sale = (42619.04/895000)*100
= (0.047619)*100
= 4.761 %


I am still not confident about it, check the answer from book if possible.
Thanks.
In sha ALLah you will succeed in your examination.
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Old Monday, October 21, 2013
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1) (900000-5000)/5000 = 179

x^21 = 179

so x = 1.28

subtract original remaining amount is 0.28

In percentage terms it is 28% per annum.



2) Convert them into percentage terms

It is 1x0.95x1.1x1.2x1.4x1.6 =2.8089

There are five years in total

So, x^5=2.8089

so, x= 1.2294

Subtract 1 and convert into percentage form,
the answer will come out to be 22.94% per year.
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