10   The population of a place increased to 54,000 in 2003 at a rate of 5% per annum.

                   (ii) what would be its population in 2005?

Answers (1)

Let the population in 2001 be P' 

Compound rate of increase = 5% p.a.

The population in 2005 will be more than in 2003

Time period, n = 2 years    (2003 to 2005)

\therefore \\ P' = 54000(1 + \frac{5}{100})^2 \\ \implies P' = \frac{54000\times105\times105}{100\times100} \approx 59535

Therefore, the population in 2005 will be 59535 (approx)

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