The population of a town is increasing at the rate of 5% per annum. What will be the population of the town on this basis after two years, if the present population is 16000?
Answers
Answered by
5
Answer:
Its a problem of compound interest.
Present population: 16000
Rate: +5
Time: 2 year
Note: compound interest works on interests.
method 1: apply formulae
Population after 2 years= 16000(1+(5/100))^2
= 16000×105×105/100×100
= 8×105×21
= 840×21
=16800+840= 17640
method 2:
First year s.i.on 16000= 800
2nd year s.i. on 16000=800
Interest on 1st year s.i.= 40
Next interest = 1640
Population after 2 years= 16000+ 1640= 17640
Similar questions