Question

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

• A. $\text{Population}\times {[1+\frac{10}{100}]}^5$
• B. $\text{Population}\times {[1-\frac{10}{100}]}^{\frac{1}{5}}$
• C. $\frac{\text{Population}\times 10\times 5}{100}$
• D. $\text{Population}\times (\frac{10}{100}{)}^5$

Answer 1

The correct option is A

$\text{Population}\times {[1+\frac{10}{100}]}^5$

The given problem demands the use of compound interest formula.
Here, number of years = 5, rate of increase = 10%.

∴ The formula becomes: $\text{Population}\times (1+\frac{10}{100}{)}^5$