Question : Due to a pandemic, the population of a city reduces at the rate of 2% per annum. What will be its total population after 2 years if the present population of the city is 45,000?
Option 1: 40538
Option 2: 44521
Option 3: 41568
Option 4: 43218
Correct Answer: 43218
Solution :
Initial population($P$) = 45,000 Rate($r$) = 2% Time($t$) = 2 years Population after 2 years = $P(1 - \frac{r}{100})^t$ = $45000\times (1 - \frac{2}{100})^2$ = $45000\times\frac{49}{50}\times\frac{49}{50}$ = $43218$ Hence, the correct answer is 43218.
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