Given:
The table shows the production of different types of household items (in lakhs) by a certain company over the years.
Formula Used:
Annual growth rate for an item from year Y1 to year Y2 is given by:
Growth Rate=Production in Y1Production in Y2−Production in Y1×100
Calculation:
Calculating growth rates:
For Item P:
2017: 7072−70×100=702×100=2.86%
2018: 7275−72×100=723×100=4.17%
2019: 7580−75×100=755×100=6.67%
2020: 8085−80×100=805×100=6.25%
2021: 8588−85×100=853×100=3.53%
For Item Q:
2017: 8090−80×100=8010×100=12.5%
2018: 9095−90×100=905×100=5.56%
2019: 95100−95×100=955×100=5.26%
2020: 10090−100×100=100−10×100=−10%
2021: 90110−90×100=9020×100=22.22%
For Item R:
2017: 7570−75×100=75−5×100=−6.67%
2018: 7080−70×100=7010×100=14.29%
2019: 8090−80×100=8010×100=12.5%
2020: 9095−90×100=905×100=5.56%
2021: 95100−95×100=955×100=5.26%
For Item S:
2017: 90100−90×100=9010×100=11.11%
2018: 100100−100×100=1000×100=0%
2019: 100110−100×100=10010×100=10%
2020: 110118−110×100=1108×100=7.27%
2021: 118120−118×100=1182×100=1.69%
For Item T:
2017: 5052−50×100=502×100=4%
2018: 5258−52×100=526×100=11.54%
2019: 5860−58×100=582×100=3.45%
2020: 6064−60×100=604×100=6.67%
2021: 6470−64×100=646×100=9.38%
For Item U:
2017: 8085−80×100=805×100=6.25%
2018: 8590−85×100=855×100=5.88%
2019: 90110−90×100=9020×100=22.22%
2020: 110120−110×100=11010×100=9.09%
2021: 120148−120×100=12028×100=23.33%
∴ The correct answer is option 4, Items R in 2018 with a growth rate of 14.29%.