Compound Interest Practice Test 2

Question : 38 of 40

Marks: +1, -0

The population of a town was 72,000 during 2008. It increases at a constant rate of 10% in 2009 and 2010, but decreased by 20% due to migration in 2011. The population of the town at the end of 2011 is:

Rs 70,000
Rs 69,696
Rs 73,500
Rs 71,00,000
Rs 73,333

Validate

Solution:

Population at the end of 2011

= 72,000 (1+10/100)^2(1-20/100)

=72,000×11/10×11/10×4/5

= Rs 69,696

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