The president of the World Bank has asked you to calculate the average population growth rate of Nigeria from 1960 to 2010. You know the population in 1960 was about 42 million and in 2010 about 152 million. The average growth rate is about:
A) 16.4 percent
B) 0.9 percent
C) 0.0 percent
D) -4.1 percent
E) 2.6 percent

Question

Quizplus · Accepted Answer

To calculate the average growth rate, we need to use the formula:

growth rate = (final population/initial population)^(1/number of years) - 1

Plugging in the given values:

growth rate = (152/42)^(1/50) - 1
= 1.265 - 1
= 0.265

Therefore, the average growth rate of Nigeria from 1960 to 2010 is 0.265 or 2.6%.

The correct answer is E.

The President of the World Bank Has Asked You to Calculate