Question

Three years ago, the population of a town was 50000. If the annual increase during three successive years be at the rate of 4%, 5% and 3% respectively, find the present population.

Answer 1

Given details are,

Three years ago population of town was = 50000

Annual increasing in 3 years = 4%,5%, 3% respectively

So, let present population be = x

By using the formula,

A = P (1 + R/100)ⁿ

x = 50000 (1 + 4/100) (1 + 5/100) (1 + 3/100)

= 50000 (1.04) (1.05) (1.03)

= 56238

∴ Present population of the town is 56238.