Question

Tick (✓) the correct answer:
The present population of a town is 24000. If it increases at the rate of 5% per annum, what will be its population after 2 years?
(a) 26400
(b) 26460
(c) 24460
(d) 26640

Answer 1

(b) 26460

$$\begin{gathered} \mathrm{Here},A=P\times {\left(1+\frac{R}{100}\right)}^n \\ =\mathrm{Rs}.24000\times {\left(1+\frac{5}{100}\right)}^2 \\ =\mathrm{Rs}.24000\times {\left(\frac{105}{100}\right)}^2 \\ =\mathrm{Rs}.24000\times \left(\frac{21}{20}\right)\times \left(\frac{21}{20}\right) \\ =\mathrm{Rs}.\left(60\times 21\times 21\right) \\ =\mathrm{Rs}.26460 \end{gathered}$$