Question

the population of a place increase to 54000 in 2003 at the rate of 5% per annum word per annum find the population in 2001 what would be its its population in 2005

Answer 1

48735 in 2001.
59535 in 2005

Answer 2

Given Population in 2003 = 54000, R = 5%, n=2 years.

(1). Population in 2001 : 

A = P(1+r/100)^n

54000 = P(1+5/100)^2

54000 = P(1+1/20)^2

54000 = P(21/20)^2

54000 = P * 21/20 * 21/20

P = 54000 * 20 * 20/21 * 21

   = ~ 48980.

Therefore the population in 2001 = 48980.


(2). Population in 2005 :

A = P(1+r/100)^n

   = 54000(1+5/100)^2

   = 54000(21/20)^2

   = 54000 * 21/20 * 21/20

   = 59535.


Therefore the population in 2005 = 59535.

Hope this helps!