Homework Answers
| Particulars | 2015 - A | 2018 - B | Change Absolute terms | Average Rate of change - Value(per Year) | Relative Percent | Relative Percent - Formula |
| John | 20000 | 28000 | 8000 | 2000 | 40% | (28000-20000)/20000 |
| Mary | 25000 | 35000 | 10000 | 2500 | 40% | (35000-25000)/25000 |
| (A-B) | (B-A)/4 yrs | Both are growing at same rate in relative terms |
Salary grew more in Absolute terms = $10000 - Mary
Salary that had the greatest average rate of change is 2500$ - Mary
In Relative terms the growth rate is same in both cases Mary and Jhon :
Even though based on absolute terms and the average rate of change mary has more growth but the real growth is calculated on relative terms.
We can not compare two absolute terms and take decisions related to growth, because there may be differences on the base.
If we compare relative terms for calculating growth and comparing the results will be far better and can come to correct conclusions.
Conclusion: John and Mary Started with different salaries but their salaries are growing at the same rate i.e., 40%
(Hope you will understand this, Please give your valuable feedback and kindly mention in the comment section if there is any query regarding this)
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