Question

From a village, people started migrating to nearby cities due to unemployment . The population of the village two years ago was $6,000$. If the rate of migration is $5\%$, find the current population of the village.

Answer 1

$Principal\left(P\right)=population2yearsago$$=6000$

$Rateofmigration\left(R\right)=5\%$

$Time\left(T\right)=2yrs$

$A=currentpopulation$

$Sincepeoplearemigrating,hencecurrentpopulationislesserthanthattwoyearsback.$

$Hencethereisadepreciation$

$\therefore A=P(1-\frac{R}{100}{)}^T$

$=6000(1-\frac{5}{100}{)}^2$

$=6000{\left(\frac{19}{20}\right)}^2$

$=6000\left(\frac{19}{20}\right)\left(\frac{19}{20}\right)$

$=5415$

$\therefore Currentpopulationis5415$