Question

Population of town is 176400. rate of increase in the population is 5% per annum. what will be the population after two year?

Answer 1

Solving it by using formula of compound interest

A = P[1+R/100]^ N

A = 176400 [1+5/100]^ 2

A = 176400 [1+1/20]^ 2

A = 176400 [21 / 20]^ 2

A = 176400 × 21 × 21 / 20 × 20

A = 1764 × 21 × 21 / 2 × 2


A = 441 × 21 × 21

A = 194481

therefore the population after 2 years will be 194481