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