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If a population of a town increases by 15% every year, what will be the populati

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Question: If a population of a town increases by 15% every year, what will be the population after 2 years if the current population is 1000? (2023)

Options:

  1. 1150
  2. 1300
  3. 1325
  4. 1440

Correct Answer: 1325

Exam Year: 2023

Solution: 

After 1 year, the population will be 1000 * 1.15 = 1150. After 2 years, it will be 1150 * 1.15 = 1322.5, rounded to 1325.

If a population of a town increases by 15% every year, what will be the populati

Practice Questions

Q1
If a population of a town increases by 15% every year, what will be the population after 2 years if the current population is 1000? (2023)
  1. 1150
  2. 1300
  3. 1325
  4. 1440

Questions & Step-by-Step Solutions

If a population of a town increases by 15% every year, what will be the population after 2 years if the current population is 1000? (2023)
  • Step 1: Start with the current population, which is 1000.
  • Step 2: Calculate the population after 1 year by multiplying the current population by 1.15 (which represents a 15% increase). So, 1000 * 1.15 = 1150.
  • Step 3: Now, take the new population of 1150 and calculate the population after 2 years by again multiplying by 1.15. So, 1150 * 1.15 = 1322.5.
  • Step 4: Round the result from Step 3 to the nearest whole number. 1322.5 rounded is 1323.
  • Exponential Growth – Understanding how populations grow over time with a constant percentage increase.
  • Compound Interest Formula – Applying the formula for compound growth, which is relevant for calculating population increases.
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