Question

The number of students enrolled in a school is $2000$. If the enrollment increases by $5$% every year, how many students will be there after two years?

Answer 1

Let number of students be $P$

Therefore $P=2000$

Rate of increment $\left(R\right)=5\%$

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

We need to find amount $\left(A\right)$

The formula is given by

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

$=2000(1+\frac{5}{100}{)}^2$

$=2000(\frac{21}{20}{)}^2$

$=\frac{2000\times 21\times 21}{20\times 20}$

$=2205$

Number of students after $2$ years is $2205$