Determine the growth factor corresponding to 1% increase

Not sure but I would say 0.1 again I am not sure that that is what is asking for

For an increase of percentage, it is a growth factor.

For a decrease of percentage, it is a decay factor.

The growth factor is = (1+r)

The decay factor is = (1-r)

As it is increase of 1%, it is a growth factor.

Here the rate of increase is 1% = 1/100 = 0.01

Hence the growth factor is 1 + 0.01 = 1.01

The growth factor corresponding to 1% increase is 1.01.