# The present popul

Population of a town, P = 24000

Time, n = 2 years

Increasing rate, R = 5% per annum

Amount (A) = P (1 + R/100)n [Where, A = Amount with compound interest

P = Present value

R = Annual interest rate

n = Time in years]

Population = P (1 + R/100)n

= 24000 (1 + 5/100)2

= 24000 (1 + 1/20)2

= 24000 (21/20)2

= 24000 × 21/20 × 21/20

= 240 × 21/2 × 21/2

= 60 × 21 × 21

= 26460

Population of a town is 26460 after 2 years.

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