The real GDP of country N for this year amounted to 420 billion. dollars. In the previous year, this figure was equal

The real GDP of country N for this year amounted to 420 billion. dollars. In the previous year, this figure was equal to 400 billion. Doll. Calculate the GDP growth rate (economic growth) for a given year.

In order to find the GDP growth rate, the level of the current year must be divided by the level of the previous one.
420/400 = 1.05
For convenience, let’s translate into percent.
1.05 * 100% = 105%
In order to find the growth rate, it is necessary to subtract the previous one from the current level, and divide this difference by the level of the previous year. For convenience, we will immediately express it as a percentage, for this we need to multiply by 100%.
(420-400) / 400 * 100% = 5%