There is a continuous growth in population of a village at the rate of 5% per annum.

Question:

There is a continuous growth in population of a village at the rate of 5% per annum. If its present population is 9261, what it was 3 years ago?

Solution:

Population after three years $=\mathrm{P}\left(1+\frac{\mathrm{R}}{100}\right)^{\mathrm{n}}$

$9,261=\mathrm{P}\left(1+\frac{5}{100}\right)^{3}$

$9,261=\mathrm{P}(1.05)^{3}$

$\mathrm{P}=\frac{9,261}{1.157625}$

$=8,000$

Thus, the population three years ago was 8,000 .

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