To find the population of the town 2 years hence, we need to apply the formula for compound interest, which is also used to calculate population growth. The formula is:

P' = P * (1 + r/100)^n

where:
P' is the new population,
P is the initial population,
r is the rate of increase, and
n is the number of years.

Step 1: Identify the values from the question:
P = 176000 (initial population)
r = 5% (rate of increase per annum)
n = 2 (number of years)

Step 2: Substitute these values into the formula:

P' = 176000 * (1 + 5/100)^2

Step 3: Simplify the equation:

P' = 176000 * (1.05)^2

Step 4: Calculate the value:

P' = 176000 * 1.1025

P' = 194040

So, the population of the town 2 years hence will be 194040.

Question

To find the population of the town 2 years hence, we need to apply the formula for compound interest, which is also used to calculate population growth. The formula is:

P' = P * (1 + r/100)^n

where:
P' is the new population,
P is the initial population,
r is the rate of increase, and
n is the number of years.

Step 1: Identify the values from the question:
P = 176000 (initial population)
r = 5% (rate of increase per annum)
n = 2 (number of years)

Step 2: Substitute these values into the formula:

P' = 176000 * (1 + 5/100)^2

Step 3: Simplify the equation:

P' = 176000 * (1.05)^2

Step 4: Calculate the value:

P' = 176000 * 1.1025

P' = 194040

So, the population of the town 2 years hence will be 194040.

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