Compound Interest Practice Test 2

Question : 27 of 40

Marks: +1, -0

The population of a village grew to 7,200 from 5,400 in a period of 3 years to the present time. What will be the population 3 years from now if it grows at a constant rate over the years and has been compounded annually?

9,600
10,800
8,400
9,000
8,800

Validate

Solution:

Rate of growth for 3 years

= 1800/5400 =1/3

Rate of growth for the next 3 years will also be same.
So, population growth from 7,200 =

7,200 ×1/3

= 2,400
So, 3 years from now, population = 7,200 + 2,400 = 9,600

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