The population of a village is 5000 and it increase at the rate of 2% every year. After 2 years, the population will be:
Solution
Correct Answer: Option C
C = P(1+r)n
= 5000{1+(2/100)2}
= 5000{1+(1/50)2}
= 5000(51/50)2
= 5202
= 5000{1+(2/100)2}
= 5000{1+(1/50)2}
= 5000(51/50)2
= 5202
Practice More Questions on Our App!
Download our app for free and access thousands of MCQ questions with detailed solutions