Question

The population of a city increases by 5% every year. If the present

population is 540000. Find the population after 2 years.

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Answer 1

Amount = P(1 + r/100)^n
➡ 540000 (1 + 5/100)^2
➡ 540000 (21/20)^2
➡ 540000 * 441/400
➡ 595350


So the population after 2 years is 595350

Answer 2

5%of 540000

=(5/100)×540000

=27000

Population after 2 years,

=2×27000+540000

=54000+540000

=594000