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Question : The population of a town increases at the rate of 20% per annum. If the town's population will be 69,120 after 2 years, then what is the town's present population?

Option 1: 48,000

Option 2: 42,000

Option 3: 40,000

Option 4: 36,000


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: 48,000


Solution : Use the formula: Amount = P[$(1+\frac{r}{100})^n$] where P is principal, $r$ is the rate of interest compounded annually for $n$ years.
The population increases at the rate of 20% per annum,
⇒ 69,120 = P [$(1+\frac{20}{100})^2$]
69,120 = P $(\frac{6}{5})^2$
⇒ P = $\frac{69120×25}{36}$
⇒ P = 48,000
Hence, the correct answer is 48,000.

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