Question : The population of a town is 1,25,000. If the annual birth rate is 12.7% and the annual death rate is 2.7%, how much will the population increase after 3 years?
Option 1: 43,285
Option 2: 41,375
Option 3: 42,565
Option 4: 40,275
Correct Answer: 41,375
Solution :
The present population, $P$ = 1,25,000
Increase rate, $r$ = 12.7% – 2.7% = 10%
Time, $n$ = 3 years
Total population = $P(1+\frac{r}{100})^{n}$
= $125000(1+\frac{10}{100})^3$
= $125000(\frac{11}{10})^3$
= $125000×\frac{11}{10}×\frac{11}{10}×\frac{11}{10}$
= $166375$
$\therefore$ Population increase = 166375 – 125000 = 41,375
Hence, the correct answer is 41,375.
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