The population of a town in China increases by 20% every year. If its present population is 2,16,000, find: (i) its population after 2 years, (ii) its population 2 years ago.
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Solution
Present population=216000
Increment rate =20% every year
(i) Population after n years = Present population (1+r100)n ⇒ Population after 2 years =216000(1+20100)2
⇒21600×120100×120100=311040
(ii)Let the Population 2 year ago is x Present population = Population n years ago (1+r100)n ⇒ 216000 = x(1+20100)2