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Statement : The second derivative of the function represents the rate of change of first derivative.

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Definition of the derivative is instanteous rate of change.

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The first derivative is the instanteous rate of change of the function.

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The second derivative is the instanteous rate of change of the first derivative function.

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The second derivative of the function represents the rate of change of first derivative.

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Consider a example :

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A Velocity function is a rate of distance function.

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A acceleration function is rate of change of velocity function.

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Hence the statement is true.

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The statement is true.