Answer:
1.65%
Step-by-step explanation:
We will assume the percentage was the same over the 5 years. The number of passengers using a railway is expressed by the formula
[tex]P(t) = P_{o}(1 - r)^{t}[/tex]
Where
P(t) is the number of passengers after 5 years
P(t) = 174,989
P₀ is the number of the passengers at the beginning of the period
P₀ = 190,205
r is the rate in percentage r = ?
t is time duration t = 5 years
Substituting these given values into the formula,
[tex]174,989 = 190,205(1 - r)^{5}[/tex]
[tex](1 - r)^{5} = \frac {174,989}{190,205}[/tex]
[tex]1 - r = \sqrt[5]{ \frac {174,989}{190,205}}[/tex]
[tex]1 - r = \sqrt[5]{0.920}[/tex]
[tex]1 - r = 0.9835[/tex]
[tex]r = 1 - 0.9835[/tex]
[tex]r = 0.0165[/tex]
r = 1.65%
The annual percentage decrease over the period of 5 years is 1.65%
