The current population of a city is 125000. If the population grows at the rate of 2% per year, what will be the population of the city after 3 years?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 132651
Current population of the city = 125000
Growth rate = 2% per year
Number of years = 3
Population after t years = P(1 + r/100)t [where, P = Current population, r = Growth rate, t = Number of years]
Population after 3 years = 125000(1 + 2/100)3 = 125000(1.02)3 = 132651