Q. 234.2( 22 Votes )

Three years ago, the population of a town was 50000. If the annual increase during three successive years be at the rate of 5%, 4% and 3% respectively, what is its present population?

Answer :

Population of a town, P = 50000


Interest rate for 1st year, p = 5%


Interest rate for 2nd year, q = 4%


Interest rate for 3rd year, r = 3%


Time, n = 3 years


Now,


Present population = P × (1 + p/100) × (1 + q/100) × (1 + r/100)


= 50000 × (1 + 5/100) × (1 + 4/100) × (1 + 3/100)


= 50000 × (1 + 1/20) × (1 + 1/25) × (1 + 3/100)


= 50000 × 21/20 × 26/25 × 103/100


= 50 × 21/2 × 26/25 × 103


= 1 × 21 × 26 × 103


= 56238


Present population of a town is 56238.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
Concept of Compound Interest50 mins
Quiz | Calculating Compound Interest Really Compound?46 mins
Taxes, Discount and Compound Interest34 mins
Goprep Genius Quiz | Taxes, Discount and Compound Interest25 mins
Become Proficient in Simple Interest36 mins
One Step Ahead of Simple Interest44 mins
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
view all courses
RELATED QUESTIONS :