Question

The population of a town is 10000.It increases annually at the rate of 20% P. a. What will be it's population after 2 years?
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Answer 1

Answer:

answer for the given problem is given

Answer 2

Given:

The population of a town=10,000

Rate=20%

Number of years=2

To find:

The population of the town after 2 years

Solution:

The population of the town after 2 years will be 14,400.

We can find the population by following the given process-

We know that the population increases at an annual rate and is compounded annually.

So, we will calculate the new population by using the concept of compound interest.

We are given that the population of a town is 10,000 and it increases at a rate of 20% p.a. for 2 years.

The original popultion=10,000

Rate=20% p.a.

Years=2

So, the new population=Original population×$(1+Rate/100)^{years}$

On putting the values,

New population=10,000×$(1+20/100)^{2}$

=10,000×$(120/100)^{2}$

=10,000×6/5×6/5

=400×36

=14,400

Therefore, the population of the town after 2 years will be 14,400.