Question

The population of a city in the year 2014 is 1,80,000 and increases at a rate of 20% per year. Find the population of the city in the year 2016?
1. 2,40,000
2. 2,59,200
3. 2,55,000
4. 2,54,300

Answer 1

Correct Answer - Option 2 : 2,59,200

Given:

Principal = 180000

Rate = 20%

Time = 2 years

Formula used:

Population after two years = [P(100 + r)/100]ⁿ

Calculation:

Population after two years = [P(100 + r)/100]ⁿ

⇒ [180000 × (100 + 20)/100]²

⇒ 180000 × 120/100 × 120/100

⇒ 259200

∴ The population of the city in the year 2016 is 259200