Question

The present population of a town is 24000. If it increases at at the rate of 5 percent p.a. what will be it's population after 2 years ?

Answer 1

The present population of a town is 24000. If it increases at at the rate of 5 percent p.a. what will be it's population after 2 years?

Population of a town, P = 24000

Time, n = 2 years

Rate, r = 5% per annum

Amount (A) = P (1 + R/100)n

$\mathtt{= 24000 (1 + 5/100)2 } \\\ \\\mathtt{= 24000 (1 + 1/20)2 }\\\\\mathtt{= 24000 (21/20)2 } \\\\\mathtt{= 24000 × 21/20 × 21/20} \\\\\mathtt{= 240 × 21/2 × 21/2 }\\\\\mathtt{= 60 × 21 × 21 }\\\\\mathtt{ = 26460}$

Population of a town is 26460 after 2 years.