Question

The population of a place increased to 54000 in 2003 at a rate of 5% per annum . Find the population in 2001

Answer 1

Answer:

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Step-by-step explanation:

So we will first find find the population in 2002.

It is given that the increase in population was 54000.

So the C.I was = 54000

Formula for compound interest is :

P [ 1 + r / 100] - P = 54000

⇒  P [ 1 + 5/100] - P  = 54000

⇒  P * 105 / 100  - P   → 21P/20 - P  = 54000

⇒ 21P - 20P / 20   = 54000    →  P = 54000* 20

P in 2002 = 10, 80, 000

Now the amount is 10, 80 , 000

As it is amount the formula would change a bit.

P [ 1 + 5/ 100]   =  10, 80 , 000 ⇒ 21P / 20    =  10, 80 ,000

⇒  P = 10, 80 , 000 * 20 / 21  = 10, 80 , 000  * 0.952 = 10, 28 , 160

Note : The amount is in approximation to the the nearest natural number. I have done this because the Question also had all the values approxiamted , so you may also right in approximated form.