1.

The population of a city increases at compounding rate of 8% per year. Find the population in the year 2012 if population in the year 2010 was 2,50,000.

Answer»

The population of a city increases at compounding rate of 8 %
e.g., interest rate , r = 8 %
period , n = 2012 - 2010 = 2 YRS
population in the YEAR 2010 was 2,50,000
e.g., P = 2,50,000

USE formula, \bf{A= P\left[\begin{array}{c}1+\frac{r}{100}\end{array}\right]^n}
A = 2,50,000 × (1 + 8/100)²
= 2,50,000 × (1.08)²
= 2,50,000 × 1.08 × 1.08
= 2,91,600

hence, population in the year 2012 = 2,91,600


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