Question
ABC Corporation's sales in 2003 were 6 000 000 rupees and its sales in 2008 were 12 000 000 rupees. The new junior accountant makes
ABC Corporation's sales in 2003 were 6 000 000 rupees and its sales in 2008 were 12 000 000 rupees. The new junior accountant makes the following statement "sales doubled in 5 years. This represents growth of 100% in 5 years so dividng 100% by 5, we find the groth rate to be 20% per year."
Do you agree of disagree with the statement. Explain.
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Authors: Thian Thima
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