Question 67
If the population of a town is 12,000 and the population increases at the rate of 10% per annum, then find the population after 3 years.
Solution
If the population of a town is 12,000 and the population increases at the rate of 10% per annum.
the population after 3 years = 12000 of (100+10)% of (100+10)% of (100+10)%
= 12000 of 110% of 110% of 110%
= $$12000\times\frac{110}{100}\times\frac{110}{100}\times\frac{110}{100}$$
= $$12\times11\times11\times11$$
= $$12\times1331$$= 15,972
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