if in the first yr your company made 275,000 the 2nd yr 300,000 the 3rd yr 310,000 what percent has your company grown?

Question

this is a question I had on a test I put 10% I am courious about the answer and howit was calculated

Answer 1

31,000 - 275,000  = 0.13     /with rounding of to hundredth

     275,000

 

0.13 = growth in 3 years= 13%

 

0.13/ 3 = 0. 043 = 4.3 % annual growth.