The present population of a town is 200000. Its population increases by 10% in the first year and 15% in the second year. Find the population of the town at the end of two years.
Solution:
We know that
Population after 2 years = Present population × (1 + r/100)n
Here the present population = 200000
Population after first year = 200000 × (1 + 10/100)1
By further calculation
= 200000 × 11/10
= 220000
Population after two years = 220000 × (1 + 15/100)1
By further calculation
= 220000 × 23/20
= 253000
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