The population of a country has been declining at 1% every decade. If the projected population of the country in 2030 is given as 1940598, what was the population of the country in 2000?
Answer & explanation
Correct answer: option 1
Let initial income = 100x
100x × \(\frac{99}{100}\) × \(\frac{99}{100}\) × \(\frac{99}{100}\) = 1940598
100x = 1940598 × \(\frac{100}{99}\) × \(\frac{100}{99}\) × \(\frac{100}{99}\)
100x = 1940598 × 1.03061 = 2,000,000