According to a census taken toward at the end of the year 1999, the population of a rural town was to be 8000. The census authority also found that the population of particular town had a growth rate of 5% per annum. In how many years after 1999 did the population of this town reach 9261?
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Answer:
Population in 2009 (P) = 64,000
Let after n years its population be 74,088(A)
Growth rate = 5% per annum
∴A=P(1+
100
r
)
n
⇒74,088=64,000(1+
100
5
)
n
⇒
64,000
74,088
=(
20
21
)
n
⇒
8,000
9,261
=(
20
21
)
n
On camparing, we get
n = 3 years
Step-by-step explanation:
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