yuvarajait wrote:A quantity increases in a manner such that the ratio of its values in any two
consecutive years is constant. If the quantity doubles every 6 years, by what
factor does it increase in two years?
The answer given is cube root of 2.
Could anyone help understanding & solving these type of problems easily. Thanks!
Here is the formula for exponential growth:
Final amount = original amount * multiplier^(number of changes).
Plug the following values into the formula above:
Original amount = 1.
Final amount = 2. (Since every 6 years the original amount doubles.)
Multiplier = x. (The factor by which the original amount will be multiplied every 2 years.)
Number of changes = 3. (Since over 6 years the original amount will be multiplied by x three times.)
2 = 1 * x^3
x = 2^(1/3).
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