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The annual rate of growth in population of a town is 10%. If its present population is 26620, the population 3 years ago was ………..

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The annual rate of growth in population of a town is 10%. If its present population is 26620, the population 3 years ago was ………..

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₹ 20,000

Rate of growth of population r = 10%; Present population = 26620

Let population 3 years ago be x

∴ Applying the formula for population growth which is similar to compound interest,

The population 3 years ago was ₹ 20,000.

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