Problema Solution
Start of Questions
The population of a town increased from 3850 in 2006 to 5300 in 2011. Find the absolute and relative (percent) increase.
Absolute increase:
Relative increase: %
Give answers accurate to at least 1 decimal place.
Answer provided by our tutors
Absolute increase refers to the simple difference over two periods in time.
Absolute increase:
5,300 - 3,850 = $1,450
Relative change refers to the change in the indicator in percentage terms, that is the absolute change as a percentage of the value of the indicator in the first period in time.
Relative increase:
1,450/3,850 = 0.3766 or 37.66%