the population of a place increased to 55000 at the rate of 5% per annum find the population in 2005
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Step-by-step explanation:
Is this a SIMPLE INTEREST based question?
If YES then here's the answer
Let the population be the Principal = P
INTEREST RATE = R
TIME = T
Then,
P = 55000, R = 5% per annum, T = 1 year
Rate of interest = 5% per annum
i.e, Interest on population 100 for 1 year = 5
Interest on population 1 for 1 year = (5 × 1/100)
Interest on population 55000 for 1 year =
(5× 1/100× 55000)
. = 2750
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