If a population of a town increases by 10% every year, what will be the population after 2 years if the current population is 1,000? (2023)

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Q: If a population of a town increases by 10% every year, what will be the population after 2 years if the current population is 1,000? (2023)

Solution: Population after 2 years = 1000 * (1 + 0.10)^2 = 1000 * 1.21 = 1210.

Steps: 7

Step 1: Identify the current population, which is 1,000.
Step 2: Determine the annual growth rate, which is 10%. Convert this percentage to a decimal by dividing by 100, resulting in 0.10.
Step 3: Calculate the growth factor for one year by adding 1 to the growth rate: 1 + 0.10 = 1.10.
Step 4: Since we want to find the population after 2 years, we need to raise the growth factor to the power of 2: (1.10)^2.
Step 5: Calculate (1.10)^2, which equals 1.21.
Step 6: Multiply the current population by the result from Step 5: 1,000 * 1.21.
Step 7: Calculate the final result: 1,000 * 1.21 = 1,210.