The increase in population of a city is at a constant rate of 5%. Find the expected population of the town after 2 years if the present population is 4,00,00
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The increase in population of a city is at a constant rate of 5%. Find the expected population of the town after 2 years if the present population is 4,00,00
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Answer:
its of problem of compound interest.
present population:16000
Rate:+5
time:2 year
Note: compound interest works on interests.
1st year s.i.on 16000= 800
2nd year s.i.=40
interest on first year s.i.=40
next interest= 164
population after 2 years=16000+1640=17640