Question

The present population of a town is 28000. If it increases at the rate of $5\%$ per annum, what will be its population after 2 years?

Answer 1

Present population = 28000
Rate of increase (R) $=5\%$ p.a.
Period (n) = 2 years
$\therefore$ Population after 2 years
= Present population ${(1+\frac{R}{100})}^n$
$=28000{(1+\frac{5}{100})}^2=28000\times \frac{21}{20}\frac{21}{20}$
$=30870$