The population of a town increases every year by 4%. If its present population…
2023
The population of a town increases every year by 4%. If its present population is 50000, then after 2 years it will be:
- A.
53900
- B.
54000
- C.
54080
- D.
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Correct answer: C
Given: Initial population (P) = 50000, rate (r) = 4% per year, time (n) = 2 years.
Use the compound growth formula: Population after n years = P × (1 + r/100)^n
Compute (1 + r/100): 1 + 4/100 = 1.04.
Raise to the power n: (1.04)^2 = 1.0816.
Multiply by P: 50000 × 1.0816 = 54080.
Answer: The population after 2 years will be 54080.