Question
Download Solution PDFThe population of a town increased from 145000 to 200000 in a decade. What will be the simple growth rate percent of population per annum?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Initial population (P1) = 145,000
Final population after a decade (P2) = 200,000
Time (t) = 10 years
We need to find:
Simple growth rate per annum (r)
The formula for simple growth rate is given by:
r = ((P2 - P1)/P1)/t
Where:
P2 is the final population,
P1 is the initial population,
r is the simple growth rate,
t is the time (in years).
We plug in the values:
r = ((200000 - 145000)/145000) × 10
r = (55000 / 145000) × 10
r = 0.03793 × 10
r = 3.793%
So, the simple growth rate of the population per annum is approximately 3.793%.
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