Find the Population of the City After 3 Years if the Population Increase by 5% Every Year.


Question: The population of a city is 20000. Find the population of the city after 3 years if the population increase by 5% every year.

The problem can be solved by the rate of increase concept.

Answer: The population of the city after 3 years will be 23,153.

Let's understand the situation in detail.

Explanation:

The population of the city is 20,000. The time period is 3 years and the rate of increase of population is 5%.

  • P = 20,000
  • n = 3
  • r = 5%

The population after 3 years is given by P(1+ r/100)n.

P(1+ r/100)=  20000(1+ (5/100))= 20000(1 + 0.05)= 20000(1.05)3 = 20000(1.157625) = 23,152.5

As the population can not be in decimals, we consider the estimated population to be 23,153.

Thus, the population of the city after 3 years will be 23,153.