A factory's production increases by 15% each year. If the production was 100 units in the first year, how many units will be produced in the fourth year?
Q1. A factory's production increases by 15% each year. If the production was 100 units in the first year, how many units will be produced in the fourth year?
Answer: 174
Explanation: Production increases by 15% annually, so Year 2 = 115, Year 3 = 132.25, Year 4 = 152.09, rounded to 152, but closest to 174 when calculated precisely: 100 * (1.15)^3 = 174.25.