Question

The population of a town increase by 5 percent annually. If the present population is 540000 find the population after 2 years.

Answer 1

Answer:

595350

Step-by-step explanation:

Concept : 5 percent increase in x would be:

$x + \frac{5}{100}x = \frac{105}{100}x$

Therefore, the answer in this case would be:

$\frac{105}{100} \times \frac{105}{100} \times 540000 = 595350$

Answer 2

Answer:

595350

Step-by-step explanation:

p=540000

r=5%

n=2

Population after n years = P (1+r/100)^n

=540000(1+5/100)²

=540000(1.05)²

=540000x1.1025

=595350