Compared to the previous year, the overhead expenses went up by 32% in 1961; it increased...

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Compared to the previous year, the overhead expenses went up by 32% in 1961; it increased by 40% in the next year and by 50% in the following year. Calculate the average rate of increase in the overhead expenses over the three years. Explain clearly the reason for the choice of the average. Compared to the previous year, the overhead expenses went up by 32% in 1961; it increased by 40% in the next year and by 50% in the following year. Calculate the average rate of increase in the overhead expenses over the three years. Explain clearly the reason for the choice of the average.

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Ans To calculate the average rate of increase in the overhead expenses over the three years we can u... View the full answer