Question

Question 10 (ii)
The population of a place increased to 54,000 in 2003 at a rate of 5% per annum.
(ii) What would be its population in 2005?

Answer 1

(ii) According to question, Population is increasing . Therefore population in 2005,
$A_{2005}=P{(1+\frac{R}{100})}^n=54000{(1+\frac{5}{100})}^2=54000{(1+\frac{1}{20})}^2$
$=54000{\left(\frac{21}{20}\right)}^2=54000\times \frac{21}{20}\times \frac{21}{20}$
=59,535
Hence population in 2005 would be 59,535.