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Lets say a town has a population of

1,000,000 in 2006

1,200,000 in 2007

1,800,000 in 2008

The percentage increase from

2006-2007 is 20%

2007-2008 is 50%

So, what I want to work out is the AVERAGE percentage per year.

The increase from 2006 to 2008 is 80%. So would it be 80%/2=40% per year?

OR

Would it be (20%+50%)/2 =35%

Neither of these actually give the right answer if you do 1,000,000*1.4^2, so was just wondering if this was even possible?