Compound Interest Practice Test 5

Question : 9 of 40

Marks: +1, -0

During the first year, the population of a town increased by 5% and during the next year, it decreased by 5%. If the total population is 9,975 at the end of the second year, then what was the population size in the beginning of the first year?

9,000
9,500
10,000
10,500

Validate

Solution:

Amount = 9,976; R = 5% decreased; T = 1 year

9975=P(1-5/100)^1

P=9975×100/95

P = 10,500
Now again when, the rate of population increased by 5%.
A = 10,500

P_1(1+5/100)^1=10,500

P_1=10,500×100/105

P_1= 10,000

So, the size of population in the beginning of the first year is 10,000.

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