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A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago?
Most Upvoted Answer
A person increases production of games at rate of 8%p.a. if he produci...
Understanding the Problem
To determine how many games were produced 3 years ago, we need to take into account the annual growth rate of 8%. We will use the formula for compound growth to work backwards.
Key Formula
The formula for calculating the past value based on growth is:
- Present Value = Past Value × (1 + Growth Rate)^Number of Years
We can rearrange this to find the Past Value:
- Past Value = Present Value / (1 + Growth Rate)^Number of Years
Calculating the Past Value
- Present Value (Current production) = 4820 games
- Growth Rate = 8% or 0.08
- Number of Years = 3
Now, substitute the values into the formula:
- Past Value = 4820 / (1 + 0.08)^3
Calculating the Growth Factor
- Growth Factor = (1 + 0.08)^3
- Growth Factor = (1.08)^3 = 1.259712
Final Calculation
- Past Value = 4820 / 1.259712
- Past Value ≈ 3825.24
Since the number of games produced must be a whole number, we round to the nearest whole number.
Conclusion
Thus, approximately:
- 3825 games were produced 3 years ago.
This backward calculation shows how historical production figures can be derived from current data, considering growth rates.
To determine how many games were produced 3 years ago, we need to take into account the annual growth rate of 8%. We will use the formula for compound growth to work backwards.
Key Formula
The formula for calculating the past value based on growth is:
- Present Value = Past Value × (1 + Growth Rate)^Number of Years
We can rearrange this to find the Past Value:
- Past Value = Present Value / (1 + Growth Rate)^Number of Years
Calculating the Past Value
- Present Value (Current production) = 4820 games
- Growth Rate = 8% or 0.08
- Number of Years = 3
Now, substitute the values into the formula:
- Past Value = 4820 / (1 + 0.08)^3
Calculating the Growth Factor
- Growth Factor = (1 + 0.08)^3
- Growth Factor = (1.08)^3 = 1.259712
Final Calculation
- Past Value = 4820 / 1.259712
- Past Value ≈ 3825.24
Since the number of games produced must be a whole number, we round to the nearest whole number.
Conclusion
Thus, approximately:
- 3825 games were produced 3 years ago.
This backward calculation shows how historical production figures can be derived from current data, considering growth rates.
Community Answer
A person increases production of games at rate of 8%p.a. if he produci...
Multiply 4820 to (100/108)^3 to get your answer
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A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago?
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A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago?.
A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person increases production of games at rate of 8%p.a. if he producing 4820 games at present how many games did he produce 3 years ago?.
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