Question

Say a certain service industry has 78.9 thousand jobs in 2003, but expects to increase at an average annual rate of 2.65 thousand jobs yearly from 2003 to 2013. if this holds true, what will be this industry’s percent increase from 2003 to 2013? a. 28% b. 30% c. 33% d. 40% please select the best answer from the choices provided a b c d

1. minhkhoi
C
Step-by-step explanation:

2. thanhha
The correct option is c. 33%.
The job rate of industry’s percent increase from 2003 to 2013 is 33%.

### What is percentage increase?

The percentage increase would be the change between the final and initial values given as a percentage. We need the initial value and the enhanced (new) value to calculate the percentage.
In other words, % growth is a measurement of percent change that indicates the amount by which a quantity increases in magnitude, strength, or value.
If the % rise is negative, we might conclude that there is corresponding proportion reduction. Let’s look at the percentage growth calculation now.
Now, according to the question;
Total Number of years = 10 years
Total number of new jobs created = 2.65 thousand x 10
= 26.5 thousand
= 26,500
Number of jobs in 2013 = 78,900 + 26,500
= 105,400
Percentage increase = (105,400 – 78,900)/78,900 x 100
= 26,500/78,900 x 100
= 0.3359 x 100
= 33.59%
Percentage increase = 33% (approx)
Therefore, the percentage increases in the job between 2003 and 2013 is 33%.
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