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Question

The rate of increase in population is 25%. What will be the population after 2 years if the initial population is 20000?

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Solution

The rate of increase in population is the increase in population compared to the previous year.
Use the concept of compound interest:

A = P × [1+R100]2

= 20000 × [1+25100]2

= 31250
After 2 years the population will be 31250.


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