The present population of a city is 60,000. If the rate of increase is 10% per year, find the population of the city after 2 years.
- A72600
- B71600
- C72000
- D70600
Solution & Step-by-step Explanation
Given:
Present population (P) = 60,000
Rate of increase (R) = 10% per year
Time (n) = 2 years
Population after 2 years can be calculated using the compound growth formula:
Population=P(1+
100
R
)
n
Population=60000(1+
100
10
)
2
Population=60000(
10
11
)
2
Population=60000×
100
121
Population=600×121=72,600
Present population (P) = 60,000
Rate of increase (R) = 10% per year
Time (n) = 2 years
Population after 2 years can be calculated using the compound growth formula:
Population=P(1+
100
R
)
n
Population=60000(1+
100
10
)
2
Population=60000(
10
11
)
2
Population=60000×
100
121
Population=600×121=72,600