Question

The population of a town is 176400 if it increases at the rate of 5% per annum what will be its population after 2 years?

Answer 1

Population after 1 year = 176400 + (5% of 176400)
= 176400 + (5/100 × 176400)
= 185220

Population after next year = 185220 + (5% of 185220)
= 185220 + (5/100 × 185220)
= 194481

Population after 2 years is 194481 ≈ 194k