Question : Two years ago, the population of the city was 5,00,000 If the annual birth rate and the annual death rate are 6% and 3%, respectively, what is the present population of the city?
Option 1: 536440
Option 2: 580440
Option 3: 530450
Option 4: 540550
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Correct Answer: 530450
Solution :
Given: The population of the city two years ago = 5,00,000
Net population growth rate = 6% – 3% = 3%
⇒ Population at present = $500000\times(1+\frac{3}{100})^2$
⇒ Population at present = $500000\times (1.03)^2$
⇒ Population at present = $500000\times1.0609$
$\therefore$ Population at present = $530450$
Hence, the correct answer is 530450.
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