Question H State whether the following statement is true or talse, and explain w

Question

Question H State whether the following statement is true or talse, and explain why, if the statement is false, state the true change lfthe national economy shrank at an annual rate of 5% per year for four consecutive years, then the economy shrank by Choose the correct answer below and, if necessary,fil in the answer box to complete your choice. 20% over the four-year penod O A. The statement is talse because each year there is a different reference value. The economy actually shrank by Type an integer or decimal rounded to the nearest tenth as needed.) The statement is true because 4 x 5% 's 20% O B.

Explanation / Answer

Ans : A.the statement is false because ,actually economy shrank by 19.45% roughly .

how it is false :

we would find the truth by the realizing that losing 5%means keeping 95% of it each year .

you are multiplying the current value by 0.95,which means you are taking it down by .95 into four times =0.8145.

That means the actual persentage of decrease over the four years is 19.45

For example : lets say that the value of the economy in 1year is 95%

If it shrank by 2nd year about 5% ,its value at the beginning of 2nd year is 90%

As 5% decrease in 3rd year is 85.20

As 5%decrease in fourth year is 80.25 roughly

so the end total shrinkage is about 19.45

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