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What is the approximate simple average annual growth rate in the number of brances of ABC bank from 2003 to 2007?

A.	100%	B.	80%
C.	108%	D.	124%
E.	142%

Answer and Explanation

Answer:124%

Explanation:
Total number of branches in 2003 = 57
Total number of branches in 2007 = 339
The growth rate of the number of branches from 2003 to 2007
339 – 57 / 51 x 100
Simple average annual growth rate
¼ x (339 – 57)/51 x 100 = ¼ x 282/57 x 100
124

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