The population of a village decreased due to lack of schools and job opportunities in the village. Every year
10% people migrated to cities. If the population of the village was 75,000 two years ago, what will be the
population one year hence? How many people would have migrated in the three years?
Answers
Answer:
Village population one year hence = 54675
No. of people migrated = 20325
Step-by-step explanation:
This is a case of depreciation, which is like compound interest with the rate of interest being negative.
P = initial population (two years ago) = 75000
R = Rate of increase in per cent per year = -10 [Note the negative sign]
T = time period in years = 3
[We have population two years ago and we need to find the populatoin one year hence. Hence the period of study is THREE years]
A = final population at the end of time period T
Using compound interest formula, we know:
A = P(1 + R/100)^T
Substituting the given values
A = 75000*(1 - 10/100)^3
A = 75000*(0.9)^3
A = 75000*(0.729)
A = 54675
The village population at the end of three years = 54675
People migrated = Initial population - Final population
= 75000 - 54675
= 20325
Answer:
Village population one year hence = 54675
No. of people migrated = 20325