Question

The present population of a town is 28000. If it increases at the rate of 5% per annum, what will be its population after 2 years?

Answer 1

Here,
P = Initial population = 28, 000
R = Rate of growth of population = 5 % per annum
n = Number of years = 2
∴ Population after two years = P \[\left( 1 + \frac{R}{100} \right)^n \]
\[ = 28, 000 \left( 1 + \frac{5}{100} \right)^2 \]
\[ = 28, 000 \left( 1 . 05 \right)^2 \]
= 30, 870
Hence, the population after two years will be 30, 870.