Question

The increase in population of a town is 10% every year. If the present population is 1,00,000 what will be the population after 3 years?

Answer 1

The present number of population = 1,00,000
The population is increasing at a rate of 10% every year
Using the formula of Compound interest

Amount = P(1 + r/100)^n
               = 100000 (1 + 10/100)³
               = 100000 * 1331/100
               = 1,33,100 

The population after 3 years = 1,33,100


Hope this helps you.

Answer 2

Solving using the formula
Amount = Principal [1+Rate/100]^Time

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