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Question
The number of members of a club is increased by 10% every year. If the initial number of the members is 500, then what will be the number at the beginning of the third year?
Options
610
615
620
605
MCQ
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Solution
605
Explanation:
No. of Members initially = 500
Increasing Rate = 10% per year
Time = 2 year
No. of people after 2 years `= "P"[1+"r"/100]^2`
`"A"=500[1+10/100]^2=500xx121/100`
= 605
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Simple and Compound Interest (Entrance Exam)
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