Question

Find the population of a city after two years which is at present 12 lakhs the rate of increase is four percent.

Answer 1

We know the formula is p(1+r/100)^n

                                       = 1200000(1+4/100)^2

                                       = 1200000(26/25)^2

                                       = 1200000 * 676/625

                                       = 1297920.


Hope this helps!