Question : The population of a city is 3,52,314. It increases annually at the rate of 15% per annum. What was its population 2 years ago?
Option 1: 3,02,400
Option 2: 3,06,360
Option 3: 2,66,400
Option 4: 2,56,400
Correct Answer: 2,66,400
Solution : Given: Rate = 15% Time = 2 years Current population = 352314 We know that, Current population = $P(1+\frac{R}{100})^n$ ⇒ $352314=P(1+\frac{15}{100})^2$ ⇒ $352314=P\times\frac{115}{100}\times\frac{115}{100}$ ⇒ $P=\frac{352314\times100\times100}{115\times115}$ ⇒ $P= 266400$ Hence, the correct answer is 2,66,400.
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