#### Question

The population of a place increased to 54000 in 2003 at a rate of 5% per annum find the population in 2001

#### Solution

It is given that, population in the year 2003 = 54,000

Therefore,

54000 = (Population in 2001)`(1 + 5/100)^2`

Population in 2001 = `54000 xx 20/21xx20/21` = 48979.59

Thus, the population in the year 2001 was approximately 48,980.

Is there an error in this question or solution?

Solution The Population of a Place Increased to 54000 in 2003 at a Rate of 5% per Annum Find the Population in 2001 Concept: Applications of Compound Interest Formula.