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

$population \: before \: 2 \: yrs = present \: population ({1 + \frac{r}{100}) } (1 + \frac{r2}{100} )$
so,,,
$16000 = p \times \frac{103}{100} \times \frac{105}{100}$
now,on simplifying....
we get...
14794.267