Question

The population of a city was 20000 in the year 1997 increased at the rate of 5 percent find the population at the end of the year 2000

Answer 1

S = Population at the end of the year 2000 = ?

i = Annual growth rate = 5%

n = Duration = 4 years (1997-98 ; 1998-99 ; 1999 - 00; 2000-2001)

R= population at the beginning of 2000 = 20000


S = R(1+i)^n

= 20000 ( 1 + 5/100)^4

= 20000 ( 1 + 0.05)^2

= 20000 (1.05)^2

= 20000 (1.1025)

= 22050 = population at the end of 2000