Question

The population of a town increases at 5% per annum.Its present population is 16000.What will be its population after 2 years?

Answer 1

P = 16000$(1+ \frac{5}{100} )^{2}$
   = 16000×$\frac{105}{100}$×$\frac{105}{100}$
   = 17640

Answer 2

Present Population = 16000
Rate = 5% per annum
Time= 2 years

Population after 2 years = Present Population × [1+r/100]^n
Population after 2 years = 16000[1+5/100]^2
Population after 2 years = 16000×105/100×105/100
Population after 2 years = 8×105×21
Population after 2 years = 17640 Ans...

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