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Select the correct answerIf the population of a city increases by 5 % annually,what will be the population of the city in 2 years time if its current population is 78000?Options900008599575200NONE

Question

Select the correct answerIf the population of a city increases by 5 % annually,what will be the population of the city in 2 years time if its current population is 78000?Options900008599575200NONE

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Solution

To solve this problem, we need to apply the formula for compound interest, which is also used for population growth. The formula is:

P = P0 * (1 + r)^n

where: P is the future population, P0 is the initial population, r is the annual growth rate (in decimal form), and n is the number of years.

Given in the problem: P0 = 78000 (the current population), r = 5/100 = 0.05 (the annual growth rate), and n = 2 (the number of years).

Substituting these values into the formula, we get:

P = 78000 * (1 + 0.05)^2 P = 78000 * (1.05)^2 P = 78000 * 1.1025 P = 85995

So, the population of the city in 2 years will be approximately 85995. Therefore, the correct answer is "NONE" because 85995 is not listed in the options.

This problem has been solved

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