Compound Interest Practice Test 5

Question : 6 of 40

Marks: +1, -0

If the population of a town grows from 3,000 to 4,500 in the last 3 years, then what will be the population 3 years hence, if the rate of growth of population remains constant over the years and has been compounded annually.

7,000
7,500
7,300
6,000
6,800

Validate

Solution:

Rate of growth for 3 years

= {1,500} / {3,000}=1/ 2

The rate of growth during the next 3 years will also be the same
So, population growth from 4,500

= 1/3× 4,500 = 1,500

So, population 3 years from now = 4,500 + 1,500 = 6,000

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