Compound Interest Practice Test 2

Question : 19 of 40

Marks: +1, -0

The population of a town increases at 5.2% per annum. Find the percentage increase in 2 years if 1.2% population migrate to cities in search of job every year.

8.16%
8.32%
8%
None of these
Cannot be determined

Validate

Solution:

Let the population of town = 100
Population after 2 years

=100(1+4/100)^2

=100(26/25)^2

=100×26/25×26/25=108.16

So, percentage increase in 2 years = 8.16%

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