Question

THE POPULATION OF A CITY WAS 1 LAKH IN 2005 IF POPULATION INCREASES AT THE RATE OF 2 % PER ANNUM WHAT IS POPULATION IN 2007 NEED STEP TO STEP SOLUTION

Answer 1

Answer

(in the attachment)

Steps followed :

• First we took the given information into neat forms considering the principal amount as 1 lakh which means the population in 2005 and rate of interest being the rate at which the population increases being is 2% per annum . we we need to find the population in year 2007 .

• For that we need to take the formula of compound interest which helps us to find the total amount at the end :

$\large{ \boxed{ \sf{Amount = P(1 + \frac{R}{100}) {}^{Time} }}}$

• Accordingto the given information we will substitute the values of P as 1,00,000 R as 2% it and time as 2years

• Then again going back to the formula we will simplify the bracket first getting the fraction as 102/100 with power of 2 .

• Then we simplify the terms in the bracket by dividing it by to getting 51/50 with power of 2 .

• We take the terms out of the bracket and repeat them according to the power .

• Then we divide 1,00,000 by two 50s and finally get 40 .

• Then multiply 40 and 51 and 51 .

• Thus getting the final population as 104040