In a factory the production of scooters rose to 46305 from 40000 in 3 years. Find the annual rate of growth of the production of scooters.
Given,
Initial production of scooters = 40000
Final production of scooters = 46305
Time duration = 3 years
Let annual growth rate = R%
So,
= 
= 
= 
= 
= 
Hence,
Annual growth rate of production of scooters = 5 %
6