Question

Kaizen is a Japanese word that means continuous development. It says that each day we should focus on getting1% better on whatever we're trying to improve.How much better do you think we can get in a year if we start following Kaizen today?Note: You can take tilf value of (1.01)365 as 37.78

Answer 1

If at day 1 we get 1% better than in the day 0, we will be:

$\frac{101}{100}\times1=1.01\times1=1.01$

1.01 better on day 1 than on day 0.

If we get 1% better on day 2 than on day 1, then by day 2 we would be:

$\frac{101}{100}\times1.01=1.01\times1.01=(1.01)^2=1.0201$

1.0201 times better on day 2 than on day 0.

After n days, we would have to multiply 1 by 1.01 n times, so by day n we would be:

$1.01^n$

times better than on day 0.

Calculate 1.01^365 to find how many times better we would be one year after day 0:

$1.01^{365}=37.78343433\ldots$

Therefore, we would get 37.78 times better by day 365, which is after one year.