Question

The population of a country increased by an average of 2% per year from 2000 to 2003. If the population of this country was 2 000 000 on December 31, 2003, then the population of this country on January 1, 2000, to the nearest thousand would have been ​

Answer 1

Step-by-step explanation:

Population in succeed year is 1.02 time previous year ( 2% is 2/100 i.e 1+0.02)

So population in 2003 will be 1.02(Population in 2002) = 1.02 ( 1.02(Poupluation in 2001)) =1.02*1.02*1.02(Population in 2001)

So population in 2001 is poulation in 2003/ (1.02) 3

= 2000000/(1.02)3

Answer 2

Step-by-step explanation:

Population of the country on Jan 1, 2000 = P

r = 2%

total duration = 4 years, : 2000, 2001, 2002, 2003

If we take the compounding of the rate of growth :

2, 000, 000 = P (1 + 2/100)^4 = P (1.02)^4

P = 1, 847,691

If we take the growth of the population similar to simple interest of money deposits, then :

2, 000, 000 = P + P * 2/100 * 4

P = 2, 000, 000 / 1.08 = 1, 851, 852