Answer:

Thus, the population in the year 2005 would be 59,535.

Step-by-step explanation:

The population of a place increased to 54,000 in 2003 at a rate of 5% per annum.

(i) Find the population in 2001.

(ii) What would be its population in 2005?

i) 

New population =54,000

Time (n)=2 yrs

r=5%

Original population = ?

54000=(1−1005)(2)P

54000=0.9025P

P=48735

Population in 2001 was 48,735.

ii) 

A=54000(1+1005)(2)

=54000(1.1025)=59,535

Population in 2005 will be 59,535