If we define per capita GDP in 2020 as y2021 and per capita GDP in 2020 as y2020, the growth rate of per capita GDP, , from 2020 to 2021 is given by

Question

If we define per capita GDP in 2020 as y2021 and per capita GDP in 2020 as y2020, the growth rate of per capita GDP, , from 2020 to 2021 is given by
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Solution 1

The growth rate of per capita GDP from 2020 to 2021 can be calculated using the formula:

Growth Rate = (y2021 - y2020) / y2020 * 100%

Step 1: Subtract the per capita GDP of 2020 (y2020) from the per capita GDP of 2021 (y2021). This will give you the change in per capita GDP from 2020 to 2021.

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