Question 33 of 45intermediate🔧 ApplyNumerical3 marks

The population of a city is rising by about 3% every year. If the current population is 1.5 crore, what is the expected population after 3 years?

Correct Answer

Given: Current population = 1.5 crore Growth rate = 3% per year

Formula: Population after nn years = P×(1+R100)nP \times (1 + \frac{R}{100})^n

Substitution: Population = 1.5×(1.03)31.5 \times (1.03)^3

Calculation: Population = 1.5×1.09271.5 \times 1.0927 Population = 1.639 crore

Answer: Expected population after 3 years is approximately 1.64 crore.

Exercise: Figure it Out (Section 4) | Q: 8 | (Page Page 24)
For More Understanding

Explanation

The chapter shows that population growth follows compound interest formula. Each year's population is 103% of the previous year's population.

Solution Steps

  1. Current population = 1.5 crore

  2. Growth rate = 3% per year

  3. Population after 3 years = 1.5 × (1.03)³

  4. = 1.5×1.0927271.5 \times 1.092727

  5. = 1.639 crore

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