What is the simple annual rate of increase in the number of agricultural loans from 1970 to 1983?
Explanation:
From 1970 to 1983, in 13 years the number of agricultural loans went up from 18,300 to 2,11,600, an increase of 1,93,300. So percentage increase in this = 19330018300 = 1057. However, this growth is spread across 13 years. Hence, simple annual rate of increase = 105713 = 81.3% = 81 (Approximately)
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