Question

the population of the town was 62500 two years ago. It increased every year at the rate of 4% per annum. Find its present population.​

Answer 1

Answer:

The population of the twon for two years ago = 62500 .

Present population :-

= 62500 × (1-4/100) ²

=( 62500 × 24/25 × 24/25 )

= 57600

Therefore , It's present population is 57600 .

Step-by-step explanation:

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Answer 2

Given : The population of the town was 62500 two years ago. It increased every year at the rate of 4% per annum.

To find : Present population.

Solution :

We can simply solve this mathematical problem by using the following mathematical process. (our goal is to calculate the present population)

Here, we have to use the following mathematical formula.

Final population = Initial population × [1 + (Rate of increase per annum/100)]ⁿ

Here, n = number of years for which the population has been increased

(This formula has been generated from the formula of compound interest where the principal amount is compounded annually.)

By, putting the available data in the above mentioned mathematical formula, we get :

Final population = 62500 × [1 + (4/100)]²

Final population = 62500 × [1 + (1/25)]²

Final population = 62500 × (26/25)²

Final population = 62500 × (676/625)

Final population = 67600

Here, the final population represents the present population which has been generated by increasing the population of 2 years ago at 4% per annum for 2 years.

So, the present population = 67600

(This will be considered as the final result.)

Hence, its present population is 67600