Application of Compound Interest (Increasing and Decreasing Rate)
The populatio...
Question
The population of Delhi is increasing at a rate of 4% per annum. If the current population of Delhi is 4500000, then the population after 3 years is
A
50,61,888
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B
50,60,022
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C
50,50,000
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Solution
The correct option is A 50,61,888 P = 45,00,000 Rate of increasing = 4% Time = 3 years Therefore, the total population after 3 years will be A = P × [1+R100]n A = 45,00,000 × [1+4100]3 A = 45,00,000 × [104100]3 A = 50,61,888