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Question

The annual increase in the population of a state is 2%. What was the population of the state two years before if it is 54,500 now?

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Solution

Given, P=54500,r=2%,n=2 years
We know, A=P[(1+r100)n]
A=54500[(1+2100)2]
A=56701.80
Hence, the population of the town 2 years is 56701.80.

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