Question

If population of city is $15000$ and it increase with $9\%$ rate, find population of city after $2$ years.

Answer 1

$A=P\left[{(1+\frac{r}{100})}^n\right]$

where, $A=$ amount

$P=$ principle

$r=$ rate of interest

$n=$ number of years

Given: $P=15000,r=9\%,n=2$ years

$A=15000\left[{(1+\frac{9}{100})}^2\right]$
$=17821$

Hence, the population of the city after $2$ years $=17821$.