Compound Interest Practice Test 5

Question : 34 of 40

Marks: +1, -0

The present population of a city is 80,000. If the rate of growth is 5% per year, find its population after 3 years.

Solution:

Population of the city after 3 years

=80000(1+5/100)^3

=80000×21/20×21/20×21/20

=92610

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