The population of a city is 160,000.If it increases at the rate of 6% per annum, then what will be its population 2 years hence?Options1797762580000NONE1000000
Question
The population of a city is 160,000.If it increases at the rate of 6% per annum, then what will be its population 2 years hence?Options1797762580000NONE1000000
Solution
To solve this problem, 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 future population, P is the present population, r is the rate of increase per annum, and n is the number of years.
Given in the problem: P = 160,000 (the present population), r = 6% (the rate of increase per annum), and n = 2 years.
Substituting these values into the formula, we get:
P' = 160,000 * (1 + 6/100)^2 = 160,000 * (1.06)^2 = 160,000 * 1.1236 = 179,776
So, the population of the city 2 years hence will be 179,776. Therefore, the correct option is 179776.
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