The population of a town is increasing at the rate of 5% per annum. What will be the population of the town on this basis after two years, if the present population is 16000?
Answer & explanation
Correct answer: option 2
5% = \(\frac{1}{20}\)
According to question ,
Population after 2 years = 16000 × \(\frac{21}{20}\) × \(\frac{21}{20}\)
= 17640
So , population after 2 years is 17640 .