Question

In 2016, Alberta had about 4.2 million people.
Assuming they follow the same population
growth rate, it is predicted they will have 6.65
million people in 20 years. At what rate is the
province's population growing?

Answer 1

The province's population is growing at the rate of  58.34 %

Rate of change is used to mathematically describe the percentage change in value over a defined period of time, and it represents the momentum of a variable. The calculation for ROC is simple in that it takes the current value of a stock or index and divides it by the value from an earlier period.

Given:

Initial Population = 4.2 million

Population after 20 years = 6.65 million

Change in population = 6.65 - 4.2 = 2.45 million

Rate at which the province's population growing is

= $\frac{Change in population}{Inital Population}$ x100 %

= $\frac{2.45}{4.2}$ x 100%

= 58.34 %

Thus the province's population is growing at the rate of  58.34 %

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