The population of a town is 125000. It is increasing at the rate of 2%

1.	The population of a town is 125000. It is increasing at the rate of 2% per annum. What will be its population after 3 years?
Answer» Population of a town, P = 125000 Time, n = 3 years Increasing rate, R = 2% per annum Now, Amount (A) = P (1 + R/100)ⁿ [Where, A = Amount with compound interest P = Present value R = Annual interest rate n = Time in years] ∴ Population = P (1 + R/100)n = 125000 (1 + 2/100)³ = 125000 (1 + 1/50)³ = 125000 (51/50)³ = 125000 × 51/50 × 51/50 × 51/50 = 1 × 51 × 51 × 51 = 132651 ∴ Population of a town after 3 years is 132651.

The population of a town is 125000. It is increasing at the rate of 2% per annum. What will be its population after 3 years?

Answer»

Population of a town, P = 125000

Time, n = 3 years

Increasing rate, R = 2% per annum

Now,

Amount (A) = P (1 + R/100)ⁿ [Where, A = Amount with compound interest

P = Present value

R = Annual interest rate

n = Time in years]

∴ Population = P (1 + R/100)n

= 125000 (1 + 2/100)³

= 125000 (1 + 1/50)³

= 125000 (51/50)³

= 125000 × 51/50 × 51/50 × 51/50 = 1 × 51 × 51 × 51

= 132651

∴ Population of a town after 3 years is 132651.