Answer:
Option (4). 25%
Step-by-step explanation:
The graph attached shows the exponential growth.
Let the graphed function is y = [tex](1+\frac{r}{100})^{t}[/tex]
Here 'r' = Rate of growth
t = Duration of time in years
y = enrollments after time 't' years
Graph shows at time 't' = 0 or initially number of enrollments = 20
After 8 years number of enrollments will be
120 = [tex]20(1+\frac{r}{100})^{8}[/tex]
[tex]\frac{120}{20}=(1+\frac{r}{100})^{8}[/tex]
6 = [tex](1+\frac{r}{100})^{8}[/tex]
log 6 = [tex]8\text{log}(1+\frac{r}{100})[/tex]
0.77815 = [tex]8\text{log}(1+\frac{r}{100})[/tex]
[tex]\text{log}(1+\frac{r}{100})[/tex] = 0.0972689
[tex](1+\frac{r}{100})=1.251[/tex]
[tex]\frac{r}{100}=0.251[/tex]
r = 25.1%
r ≈ 25%
Therefore, Option (4) will be the answer.
