Question : 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.
Option 1: 15,972
Option 2: 12,200
Option 3: 11,200
Option 4: 10,200
Correct Answer: 15,972
Solution :
Given,
Population of town = 12,000
Percentage increase in population = 10%
We know the population of the city in n years = Initial population $× (1 + \frac{r}{100})^n$, where r is the rate at which the population is increasing.
$\therefore$ Population of the city in 3 years
$= 12000 × (1 + \frac{10}{100})^3$
$= 12000 × (\frac{11}{10})^3$
$= 12000 × \frac{1331}{1000}$
$= 12 × 1331$
$= 15972$
Hence, the correct answer is 15,972.
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