Question

The present population of a village is 18,000. It is estimated that the population of the village grows by 3% per year. Find the population of the village after 4 years.

Answer 1

Given : $P=18,000,R=3,n=4$

To find $A$

We know that,

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

$=18000{(1+\frac{3}{100})}^4$

$=18000{\left(\frac{103}{100}\right)}^4$

$=18000\times (1.03{)}^4$

$=20259.15$

$\therefore A=20259$ Rs.

Hence, the population of the village after $4$ years will be Rs. $20,259$.