The population of India is 100 crores. If its population increases by 2.5% every year, what wiwill be its population after 1 year?
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Initial population= P = 100crs
Rate of increase= i = 2.5%
Time= n = 1
A = population at the end
=P(1+i)^n
= 100(1 + 2.5/100)^1
= 100(1 + 0.025)^1
=100(1.025)
=102.5crores at the end of 1 year
Rate of increase= i = 2.5%
Time= n = 1
A = population at the end
=P(1+i)^n
= 100(1 + 2.5/100)^1
= 100(1 + 0.025)^1
=100(1.025)
=102.5crores at the end of 1 year
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