Question

The present population of a village is 12000. So, at what rate it will be 17280 after 2 years ?

Answer 1

R = Population at present = 12000

i = Annual growth rate = ? %

n = Duration = 2 years

S = population after 2 years = 17280

S = R(1+i)^n

17280= 12000 ( 1 + i )^2

17280/12000 = ( 1 +i)^2

1.44= (1 + i) ^2

√(1.44) = (1 +i)

1.2 = 1+i

1.2 - 1 = i

0.2 = i = 20%