Question

the population of a town was 16000 two years ago if it had increased by 3 percentage and 5 percentage respectively in the last 2 years find its present population find the answer using compound interest formula or simple interest formula ?

Answer 1

2 year ago=16000
before1 year=3%of 16000=480=16000+480=16480
last=16480
this year =5%16480=824=17304
answer is 17304