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If the population of a city is 1 million and it grows at a rate of 2% per year,

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Question: If the population of a city is 1 million and it grows at a rate of 2% per year, what will be the population after one year? (2023)

Options:

  1. 1.02 million
  2. 1.05 million
  3. 1.1 million
  4. 1.1 million

Correct Answer: 1.02 million

Exam Year: 2023

Solution: 

Population after one year = Current Population * (1 + Growth Rate) = 1 million * (1 + 0.02) = 1 million * 1.02 = 1.02 million.

If the population of a city is 1 million and it grows at a rate of 2% per year,

Practice Questions

Q1
If the population of a city is 1 million and it grows at a rate of 2% per year, what will be the population after one year? (2023)
  1. 1.02 million
  2. 1.05 million
  3. 1.1 million
  4. 1.1 million

Questions & Step-by-Step Solutions

If the population of a city is 1 million and it grows at a rate of 2% per year, what will be the population after one year? (2023)
  • Step 1: Identify the current population of the city, which is 1 million.
  • Step 2: Identify the growth rate, which is 2%. Convert this percentage to a decimal by dividing by 100, so 2% becomes 0.02.
  • Step 3: Calculate the growth factor by adding 1 to the growth rate decimal: 1 + 0.02 = 1.02.
  • Step 4: Multiply the current population by the growth factor: 1 million * 1.02.
  • Step 5: Calculate the result: 1 million * 1.02 = 1.02 million.
  • Population Growth Calculation – Understanding how to apply a percentage growth rate to a current population to find the future population.
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