Question

The number of books donated to a library is increasing by 25% each month. Initially, there were 80 books donated to the library. There were 100 books donated at the end of Month 1. How many books are expected to be donated to the library at the end of Month 10? Round the answer to the nearest whole number. Enter your answer in the box.

Answer 1

Answer: There would be 745 books at the end of month 10.

Explanation:

Since we have given that

Number of books initially = 80

Rate of growth = 25% = 0.25

t = 10 months

We need to find the number of books that are expected at the end of month 10.

As we know the formula for "Compound interest":

`A=P(1+(r)/(100))^t\\\\A=80(1+(25)/(100))^(10)\\\\A=80(1+0.25)^(10)\\\\A=80(1.25)^(10)\\\\A=745.05`

Hence, there would be 745 books at the end of month 10.