The population of a town was 3600 three years back. It is 4800 right now. What will be the population three years down the line, if the rate of growth of population has been constant over the years and has been compounding annually?
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Population 3 years back=3600
Present population=4800
Change of population in this 3 years=4800-3600=1200
change % of 3 years = 1200/4800×100=25%
change % of 1year=25/3=8-1/3%
Population after 3 years=4800×(1+25/100×3)
=4800×13/12×13/12×13/12
=18308.33
Present population=4800
Change of population in this 3 years=4800-3600=1200
change % of 3 years = 1200/4800×100=25%
change % of 1year=25/3=8-1/3%
Population after 3 years=4800×(1+25/100×3)
=4800×13/12×13/12×13/12
=18308.33
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