Question 67
Read the following table and answer question that follow:
What is the compounded annual growth rate of sales revenue of Brand Boss over the years from 2014 to 2016?
Solution
Assuming CAGR = r,
2420 = 2000(1+r/100)$$^2$$
(1+r/100)$$^2$$ = 1.21
=> 1+r/100 = 1.1
=> r/100 = 0.1
=> r=10
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