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Formula for Compound Interest

What will be ...

Question

What will be the population of a country after 5 years at an annual increase of 10%?

A

Population × (1+ 10/100)⁵

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B

Population × (1 - 10/100)^1/5

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C

(Population × 10 × 5)/100

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D

Population × (10/100)⁵

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Solution

The correct option is A
Population × (1+ 10/100)⁵

The given problem demands compound interest:

∴ The formula becomes: Population $\times {[1 + \frac{10}{100}]}^{5}$

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