The population of a town is 1,25,000. If the annual birth rate is 12.7% and the annual death rate is 2.7%, how much will the population increase after 3 years?
Answer & explanation
Correct answer: option 2
⇒ The annual birth rate = 12.7%
⇒ The annual death rate = 2.7%
⇒ Net Annual rate = Birth rate - death rate = 12.7 - 2.7 = 10%
The population increased by 10% every years
⇒ Increased Population = Population x \(\frac{(100 + Annual rate)}{100}\) x\(\frac{(100 + Annual rate)}{100}\) x \(\frac{(100 + Annual rate)}{100}\)
= 125000 x \(\frac{110}{100}\) x \(\frac{110}{100}\) x \(\frac{110}{100}\)
= 166375
Increased Population = New population - Previous population = 166375 - 125000 = 41375