Compound Interest Practice Test 4

Question : 23 of 40

Marks: +1, -0

The population of a city increases at the rate of 6.5% p.a. Find the percentage increase in 2 years if there is an additional increase of 1.5% p.a. due to influx of migrants.

16.64%
12.5%
8.12%
8%
10.25%

Validate

Solution:

Total percentage increase p.a. = 8%
Let the population of the city = 100
Population after 2 years

=100(1+8/100)^2

=100×27/25×27/25

= 116.64%
Percentage increase = 16.64%

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