Assume that population was 200 in year 1 and 202 in year 2 and real GDP is $50,000 in year 1 and $51,200 in ye

Question

Assume that population was 200 in year 1 and 202 in year 2 and real GDP is $50,000 in year 1 and $51,200 in year 2. What is the growth rate of GDP per capita?

Answer 1

(51.2/202) / (50/200) = 1.01386 = +1.386%

Answer: Real GDP per capita increased by +1.386%

Answer 2

GDP per capita = total GDP/population

Growth rate is (GDP per capita in year 2 / GDP per capita in year 1) - 1

Just do the math yourself.