Question

The population of a city is 50,000 at present. it increases at the rate of 10% per annum- what will be its population 3 yr from now?

O 661550
O 601500
O 651550
O 67250

Answer 1

To find the future population of the city after 3 years with a 10% annual growth rate from a current population of 50,000, we use the compound growth formula to get a population of 66,550.

Step-by-step explanation:

The population of a city is 50,000 at present and increases at the rate of 10% per annum. To calculate its population 3 years from now, we use the formula for compound growth: P = P0(1 + r)n, where P is the future population, P0 is the current population, r is the annual growth rate, and n is the number of years.

Let's do the calculation step by step:

1. Identify the current population (P0) which is 50,000.
2. Convert the growth rate of 10% into decimal form (r), which is 0.10.
3. Identify the number of years (n) which is 3.
4. Insert these values into the formula: P = 50,000(1 + 0.10)3.
5. Calculate the future population: P = 50,000(1.10)3 = 50,000(1.331) = 66,550.

Therefore, the population of the city will be 66,550 3 years from now.