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Instructions

The table given below gives the annual details of loans from rural banks and agricultural loans over the years 1970 to 1983. Using this data answer the questions that follow.

Question 28

What is the simple annual rate of increase in the number of agricultural loans from 1970 to 1983?

Solution

Change = 211.6 - 18.3 = 193.3

% increase = $$\frac{193.3}{18.3}*100$$ = 1056%

This is distributed over 13 years => Average yearly increment = $$\frac{1056}{13}$$ = 81%

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