The population of a town increases annually by 5% of what it was at the beginning of a year. If the present population of the town is 1,44,000, then compute its population at the end of 2 years.
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Answer:
Population after n years = Present Population =(1+
100
r
)
n
Population after 2 years =50000(1+
100
5
)
2
=50000(
100
105
)
2
=50000×
100
105
×
100
105
=5×105×105=55125