Question
Download Solution PDFA district has 10,24,000 inhabitants. If the population increases at the rate 2.5% per annum, find the number of inhabitants at the end of three years.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A district has 10,24,000 inhabitants.
The population increases at the rate of 2.5% per annum.
Concept used:
In case of the compound interest,
Amount = P(1 + R/100)N
CI = P(1 + R/100)N - P
where
P = Principal amount
R = Rate of interest per year
N = Time in years
Calculation:
Now, the number of inhabitants at the end of three years
⇒ 1024000(1 + 2.5%)3
⇒ 11,02,736
∴ The number of inhabitants at the end of three years is 11,02,736.
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