Question

The population of a town increases at 5% per annum. Its present population is 16000. What will be its population after 2 years?

Answer 1

The present population of the town = 16000
Increase in population after 1 year = 5% of 16000
= $\left(\frac{5}{100}\times 16000\right)$ = 800
Thus, population after one year = 16000 + 800 = 16800
Increase in population after 2 years = 5% of 16800
= $\left(\frac{5}{100}\times 16800\right)$ = 840
Increased population after two years = 16800 + 840 = 17640

Hence, the population of the town after two years will be 17,640.