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A national festival lasts for 5 days. If the first day has 1,000 visitors and ea

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Question: A national festival lasts for 5 days. If the first day has 1,000 visitors and each subsequent day sees a 10% increase in visitors, how many visitors will there be on the last day? (2023)

Options:

  1. 1,464
  2. 1,500
  3. 1,600
  4. 1,700

Correct Answer: 1,464

Exam Year: 2023

Solution: 

Visitors on the last day = 1,000 * (1 + 0.10)^4 = 1,000 * 1.4641 ≈ 1,464.

A national festival lasts for 5 days. If the first day has 1,000 visitors and ea

Practice Questions

Q1
A national festival lasts for 5 days. If the first day has 1,000 visitors and each subsequent day sees a 10% increase in visitors, how many visitors will there be on the last day? (2023)
  1. 1,464
  2. 1,500
  3. 1,600
  4. 1,700

Questions & Step-by-Step Solutions

A national festival lasts for 5 days. If the first day has 1,000 visitors and each subsequent day sees a 10% increase in visitors, how many visitors will there be on the last day? (2023)
  • Step 1: Identify the number of visitors on the first day, which is 1,000.
  • Step 2: Understand that each subsequent day has a 10% increase in visitors.
  • Step 3: Calculate the increase factor for each day, which is 1 + 0.10 = 1.10.
  • Step 4: Since the festival lasts for 5 days, we need to calculate the number of visitors for the last day (5th day).
  • Step 5: The number of days after the first day is 4 (Day 2, Day 3, Day 4, Day 5).
  • Step 6: Use the formula: Visitors on the last day = Initial visitors * (Increase factor)^(Number of days after the first day).
  • Step 7: Plug in the numbers: Visitors on the last day = 1,000 * (1.10)^4.
  • Step 8: Calculate (1.10)^4, which is approximately 1.4641.
  • Step 9: Multiply 1,000 by 1.4641 to find the number of visitors on the last day.
  • Step 10: The final result is approximately 1,464 visitors on the last day.
  • Exponential Growth – The problem tests understanding of exponential growth through a percentage increase over multiple periods.
  • Geometric Series – The calculation involves recognizing the pattern of a geometric series where each term is a fixed percentage increase from the previous term.
  • Compound Interest Formula – The formula used is similar to the compound interest formula, where the principal amount grows by a certain rate over time.
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