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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