The population of Bigville increased from 387,480 to 571,533 in the last 7 years. During the same time period, Smallville increased its population by 53.67%. Compare the towns to determine which is growing at the greatest rate and by what factor? (round to nearest hundredth)
Responses
To compare the growth rates of Bigville and Smallville, we need to determine the percentage increase in population for both towns.
For Bigville:
Population increase over 7 years = 571,533 - 387,480 = 184,053
Percentage increase = (population increase / initial population) × 100
Percentage increase = (184,053 / 387,480) × 100
Percentage increase = 47.53%
For Smallville:
Percentage increase = 53.67%
Comparing the percentages, we can determine that Smallville is growing at a greater rate than Bigville.
To find the factor by which each town is growing, we can use the formula:
Growth factor = (percentage increase / 100) + 1
For Bigville:
Growth factor = (47.53 / 100) + 1
Growth factor = 1.4753
For Smallville:
Growth factor = (53.67 / 100) + 1
Growth factor = 1.5367
So, Smallville is growing at a greater rate by a factor of approximately 1.54, compared to Bigville's growth rate of approximately 1.48.