Tick (✓) the correct answer
Question:

Tick (✓) the correct answer:

The present population of a town is 24000. If it increases at the rate of 5% per annum, what will be its population after 2 years?

(a) 26400

(b) 26460

(c) 24460

(d) 26640

Solution:

(b) 26460

Here, $A=P \times\left(1+\frac{R}{100}\right)^{n}$

$=$ Rs. $24000 \times\left(1+\frac{5}{100}\right)^{2}$

$=$ Rs. $24000 \times\left(\frac{105}{100}\right)^{2}$

$=$ Rs. $24000 \times\left(\frac{21}{20}\right) \times\left(\frac{21}{20}\right)$

$=$ Rs. $(60 \times 21 \times 21)$

$=$ Rs. 26460

 

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