Three years ago, the population of a town was 50000. It increased by 10% in each of two successive years, but last year it decreased by 4% due to a pandemic. Find the present population of the town.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 58080
Each change is a percentage of the population at the start of that year, so the changes are applied one after another as multiplying factors: a 10% rise multiplies by 1.1 and a 4% fall by 0.96.
After the first year: \(50000\times1.1=55000\)
After the second year: \(55000\times1.1=60500\)
After the third year: \(60500\times0.96=\) 58080