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Question
The population of a town in the year 2005 was 4, 25,000. Find its population in the year 2007 if the rate of annual increase is 4% per year.
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Solution
vn =? ; v0 = 4,25,000 ; r = 4 % ; t = 2 years
Vn = V0 `(1 + "r"/100)^"t"`
Vn = 425000 `(1 + 4/100)^2`
Vn = 4,25,000 x 1.04 x 1.04
Vn = 4,59,680
The population in 2007 is 4,59,680
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